Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2016	Feb. 21, 2017	Jun. 30, 2016
Document and Entity [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Trading Symbol	MHLD
Entity Registrant Name	MAIDEN HOLDINGS, LTD.
Entity Central Index Key	0001412100
Current Fiscal Year End Data	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		86,272,069
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 670.7

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost 2016: $4,005,642; 2015: $3,562,864)	$ 3,971,666	$ 3,508,088
Fixed maturities, held to maturity, at amortized cost (fair value 2016: $766,135; 2015: $598,975)	752,212	607,843
Other investments, at fair value (cost 2016: $10,057; 2015: $10,816)	13,060	11,812
Total investments	4,736,938	4,127,743
Cash and cash equivalents	45,747	89,641
Restricted cash and cash equivalents	103,788	242,859
Accrued investment income	36,517	32,288
Reinsurance balances receivable, net (includes $132,056 and $147,365 from related parties in 2016 and 2015, respectively)	410,166	377,318
Reinsurance recoverable on unpaid losses (includes $5,085 and $2,177 from related parties in 2016 and 2015, respectively)	99,936	71,248
Loan to related party	167,975	167,975
Deferred commission and other acquisition expenses (includes $339,172 and $341,025 from related parties in 2016 and 2015, respectively)	424,605	397,548
Goodwill and intangible assets, net	77,715	81,920
Other assets	148,912	115,038
Total assets	6,252,299	5,703,578
LIABILITIES
Reserve for loss and loss adjustment expenses (includes $1,776,784 and $1,443,639 from related parties in 2016 and 2015, respectively)	2,896,496	2,510,101
Unearned premiums (includes $1,152,484 and $1,077,460 from related parties in 2016 and 2015, respectively)	1,475,506	1,354,572
Accrued expenses and other liabilities	167,736	139,873
Senior notes - principal amount	362,500	360,000
Less unamortized issuance costs	11,091	10,067
Senior notes, net	351,409	349,933
Total liabilities	4,891,147	4,354,479
Commitments and Contingencies
EQUITY
Preference shares	315,000	480,000
Common shares ($0.01 par value; 87,321,012 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,271,109 and 73,721,140 shares outstanding in 2016 and 2015, respectively)	873	747
Additional paid-in capital	749,256	579,178
Accumulated other comprehensive income (loss)	14,997	(23,767)
Retained earnings	285,662	316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively)	(4,991)	(4,521)
Total Maiden shareholders’ equity	1,360,797	1,347,821
Noncontrolling interests in subsidiaries	355	1,278
Total equity	1,361,152	1,349,099
Total liabilities and equity	$ 6,252,299	$ 5,703,578

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fixed Maturities, available-for-sale, Amortized cost	$ 4,005,642	$ 3,562,864
Fixed Maturities, held-to-maturity, Amortized cost	766,135	598,975
Other Investments, Cost	10,057	10,816
Reinsurance balance receivable, net	410,166	377,318
Reinsurance recoverable on unpaid losses	99,936	71,248
Deferred commissions and other acquisition expenses	424,605	397,548
Reserve for loss and loss adjustment expenses	2,896,496	2,510,101
Unearned premiums	$ 1,475,506	$ 1,354,572
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,321,012	74,735,785
Common shares, shares outstanding (in shares)	86,271,109	73,721,140
Treasury shares, shares (in shares)	1,049,903	1,014,645
Related Party Transactions
Reinsurance balance receivable, net	$ 132,056	$ 147,365
Reinsurance recoverable on unpaid losses	5,085	2,177
Deferred commissions and other acquisition expenses	339,172	341,025
Reserve for loss and loss adjustment expenses	1,776,784	1,443,639
Unearned premiums	$ 1,152,484	$ 1,077,460

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Gross premiums written	$ 2,831,348,000	$ 2,662,825,000	$ 2,507,352,000
Net premiums written	2,654,952,000	2,514,116,000	2,458,136,000
Change in unearned premiums	(86,802,000)	(85,047,000)	(206,393,000)
Net premiums earned	2,568,150,000	2,429,069,000	2,251,743,000
Other insurance revenue	10,817,000	11,512,000	13,410,000
Net investment income	145,892,000	131,092,000	117,215,000
Net realized gains on investment	6,774,000	2,498,000	1,163,000
Total other-than-temporary impairment losses	0	(1,060,000)	(2,364,000)
Portion of loss recognized in other comprehensive income (loss)	0	0	0
Net impairment losses recognized in earnings	0	(1,060,000)	(2,364,000)
Total revenues	2,731,633,000	2,573,111,000	2,381,167,000
Expenses
Net loss and loss adjustment expenses	1,819,906,000	1,633,570,000	1,498,271,000
Commission and other acquisition expenses	773,664,000	724,197,000	659,315,000
General and administrative expenses	66,984,000	64,872,000	62,558,000
Interest and amortization expenses	28,173,000	29,063,000	29,959,000
Accelerated amortization of debt discount and issuance cost	2,345,000	0	28,240,000
Amortization of intangible assets	2,461,000	2,840,000	3,277,000
Foreign exchange and other gains, net	(11,612,000)	(7,753,000)	(4,150,000)
Total expenses	2,681,921,000	2,446,789,000	2,277,470,000
Income before income taxes	49,712,000	126,322,000	103,697,000
Less: income tax expense	1,574,000	2,038,000	2,164,000
Net income	48,138,000	124,284,000	101,533,000
Add: loss (income) attributable to noncontrolling interests	842,000	192,000	(142,000)
Net income attributable to Maiden	48,980,000	124,476,000	101,391,000
Dividends on preference shares	(33,756,000)	(24,337,000)	(24,337,000)
Net income attributable to Maiden common shareholders	$ 15,224,000	$ 100,139,000	$ 77,054,000
Basic earnings per share attributable to Maiden common shareholders (in dollars per share)	$ 0.20	$ 1.36	$ 1.06
Diluted earnings per share attributable to Maiden common shareholders (in dollars per share)	0.19	1.31	1.04
Dividends declared per common share (in dollars per share)	$ 0.57	$ 0.53	$ 0.46
Weighted average number of common shares - basic (in shares)	77,534,860	73,478,544	72,843,782
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)	78,686,943	85,638,235	74,117,568

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 48,138	$ 124,284	$ 101,533
Other comprehensive income (loss)
Net unrealized holdings gains (losses) on available-for-sale fixed maturities arising during the period	32,788	(132,511)	40,625
Adjustment for reclassification of net realized losses (gains) recognized in net income	576	(263)	3,278
Foreign currency translation adjustment	5,373	13,566	25,592
Other comprehensive income (loss), before tax	38,737	(119,208)	69,495
Income tax benefit (expense) related to components of other comprehensive income	32	83	(52)
Other comprehensive income (loss), after tax	38,769	(119,125)	69,443
Comprehensive income	86,907	5,159	170,976
Net loss (income) attributable to noncontrolling interests	842	192	(142)
Other comprehensive (income) loss attributable to noncontrolling interests	(5)	65	66
Comprehensive loss (income) attributable to noncontrolling interests	837	257	(76)
Comprehensive income attributable to Maiden	$ 87,744	$ 5,416	$ 170,900

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Total	Preference shares – Series C	Preference shares – Series A, B and C	Preference shares – Series A, B and C Preference shares – Series C	Common shares	Additional paid-in capital	Accumulated other comprehensive income (loss)	Retained earnings	Treasury shares	Noncontrolling interests in subsidiaries
Beginning balance at Dec. 31, 2013			$ 315,000,000		$ 736,000	$ 574,522,000	$ 25,784,000	$ 211,602,000	$ (3,801,000)	$ 452,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of preference shares – Series B			0		0	0
Issuance of preference shares – Series C				$ 0
Exercise of options and issuance of common shares					3,000	589,000
Share-based compensation expense						3,334,000
Issuance costs of preference shares						0
Change in net unrealized gains (losses) on investment							43,851,000
Foreign currency translation adjustment							25,658,000			(66,000)
Net income attributable to Maiden	$ 101,391,000							101,391,000
Dividends on preference shares								(24,337,000)
Dividends on common shares								(33,572,000)
Shares repurchased									(66,000)
Acquisition of subsidiary										0
Maiden's reacquisition of interest in subsidiary										0
Dividend paid to noncontrolling interest										(56,000)
Net loss (income) attributable to noncontrolling interests	(142,000)									142,000
Ending balance at Dec. 31, 2014	1,241,166,000		315,000,000		739,000	578,445,000	95,293,000	255,084,000	(3,867,000)	472,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of preference shares – Series B			0		0	0
Issuance of preference shares – Series C				165,000,000
Exercise of options and issuance of common shares					8,000	3,310,000
Share-based compensation expense						2,938,000
Issuance costs of preference shares						(5,515,000)
Change in net unrealized gains (losses) on investment							(132,691,000)
Foreign currency translation adjustment							13,631,000			(65,000)
Net income attributable to Maiden	124,476,000							124,476,000
Dividends on preference shares		$ 0						(24,337,000)
Dividends on common shares								(39,039,000)
Shares repurchased									(654,000)
Acquisition of subsidiary										1,378,000
Maiden's reacquisition of interest in subsidiary										0
Dividend paid to noncontrolling interest										(315,000)
Net loss (income) attributable to noncontrolling interests	192,000									(192,000)
Ending balance at Dec. 31, 2015	1,349,099,000		480,000,000		747,000	579,178,000	(23,767,000)	316,184,000	(4,521,000)	1,278,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of preference shares – Series B			(165,000,000)		121,000	164,879,000
Issuance of preference shares – Series C				$ 0
Exercise of options and issuance of common shares					5,000	1,926,000
Share-based compensation expense						3,414,000
Issuance costs of preference shares						0
Others						(141,000)
Change in net unrealized gains (losses) on investment							33,396,000
Foreign currency translation adjustment							5,368,000			5,000
Net income attributable to Maiden	48,980,000							48,980,000
Dividends on preference shares		$ (12,410,000)						(33,756,000)
Dividends on common shares								(45,746,000)
Shares repurchased									(470,000)
Acquisition of subsidiary										14,000
Maiden's reacquisition of interest in subsidiary										(69,000)
Dividend paid to noncontrolling interest										(31,000)
Net loss (income) attributable to noncontrolling interests	842,000									(842,000)
Ending balance at Dec. 31, 2016	$ 1,361,152,000		$ 315,000,000		$ 873,000	$ 749,256,000	$ 14,997,000	$ 285,662,000	$ (4,991,000)	$ 355,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities
Net income	$ 48,138	$ 124,284	$ 101,533
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	20,303	9,716	40,319
Net realized gains on investment	(6,774)	(2,498)	(1,163)
Net impairment losses recognized in earnings	0	1,060	2,364
Foreign exchange and other gains, net	(11,612)	(7,753)	(4,150)
Changes in assets – (increase) decrease:
Reinsurance balances receivable, net	(33,116)	127,506	34,343
Reinsurance recoverable on unpaid losses	(29,308)	(20,721)	8,078
Accrued investment income	(4,354)	(5,086)	(2,693)
Deferred commission and other acquisition expenses	(29,405)	(26,546)	(69,217)
Other assets	(37,182)	(76,599)	32,060
Changes in liabilities – increase (decrease):
Reserve for loss and loss adjustment expenses	407,267	304,254	354,014
Unearned premiums	125,775	154,642	182,602
Accrued expenses and other liabilities	20,400	52,039	(26,445)
Net cash provided by operating activities	470,132	634,298	651,645
Cash flows from investing activities:
Purchases of fixed-maturities – available-for-sale	(1,372,049)	(1,463,556)	(778,702)
Purchases of other investments	(172)	(217)	(6,698)
Proceeds from sales of fixed-maturities – available-for-sale	129,306	129,152	171,216
Proceeds from maturities and calls of fixed maturities – available-for-sale	657,819	541,081	349,852
Proceeds from maturities and calls of fixed maturities – held to maturity	6,172	0	0
Proceeds from sale and redemption of other investments	1,481	456	797
Decrease (increase) in restricted cash and cash equivalents	138,861	34,980	(207,859)
Other, net	(622)	7,426	(490)
Net cash used in investing activities	(439,204)	(750,678)	(471,884)
Cash flows from financing activities:
Senior notes, net of issuance costs	106,285	0	0
Redemption of 2011 senior notes	(107,500)	0	0
Redemption of junior subordinated debt	0	0	(152,500)
Preference shares, net of issuance costs	(143)	159,628	0
Issuance of common shares	1,931	3,318	592
Repurchase of common shares	(470)	(654)	(66)
Dividends paid – Maiden common shareholders	(43,127)	(38,204)	(32,079)
Dividends paid – preference shares	(33,756)	(24,337)	(24,337)
Net cash (used in) provided by financing activities	(76,780)	99,751	(208,390)
Effect of exchange rate changes on foreign currency cash	1,958	(1,849)	(3,085)
Net decrease in cash and cash equivalents	(43,894)	(18,478)	(31,714)
Cash and cash equivalents, beginning of period	89,641	108,119	139,833
Cash and cash equivalents, end of period	45,747	89,641	108,119
Supplemental information on cash flows
Interest paid	27,897	28,687	34,222
Taxes paid	$ 494	$ 789	$ 708

Organization	12 Months Ended
Organization	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Maiden Holdings, Ltd. (sometimes referred to as "Maiden Holdings" or "Parent Company") is a Bermuda-based holding company formed in June 2007, primarily focused on serving the needs of regional and specialty insurers in the United States and Europe by providing innovative reinsurance solutions designed to support their capital needs. Together with its subsidiaries (collectively referred to as the "Company", "We" or "Maiden"), Maiden specializes in reinsurance solutions that optimize financing by providing coverage within the more predictable and actuarially credible lower layers of coverage and/or reinsure risks that are believed to be lower hazard, more predictable and generally not susceptible to catastrophe claims. Our tailored solutions include a variety of value added services focused on helping our clients grow and prosper. We provide reinsurance through our wholly owned subsidiaries, Maiden Reinsurance Ltd. ("Maiden Bermuda") and Maiden Reinsurance North America, Inc. ("Maiden US") and have operations in Bermuda and the United States, respectively. Maiden Bermuda does not underwrite any direct insurance business. Internationally, we provide reinsurance-related services through Maiden Global Holdings, Ltd. ("Maiden Global") and its subsidiaries. Maiden Global primarily focuses on providing branded auto and credit life insurance products through its insurer partners to retail clients in the European Union and other global markets, which also produce reinsurance programs which are underwritten by Maiden Bermuda. Certain international credit life business is also written on a primary basis by Maiden Life Försäkrings AB ("Maiden LF"), a wholly owned subsidiary of Maiden Holdings, as part of Maiden Global’s service offerings.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Significant Accounting Policies

Basis of Reporting and Consolidation — These Consolidated Financial Statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and include the accounts of Maiden Holdings and all of its subsidiaries. These Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the period and all such adjustments are of a normal recurring nature. All significant intercompany transactions and accounts have been eliminated. Certain prior year comparatives have been reclassified to conform to the current year presentation. The effect of these reclassifications had no impact on previously reported shareholders' equity or net income.

Estimates — The preparation of U.S. GAAP Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. The significant estimates include, but are not limited to:


•	reserve for loss and loss adjustment expenses ("loss and LAE");


•	recoverability of deferred commission and other acquisition expenses;


•	determination of impairment of goodwill and other intangible assets;


•	valuation of financial instruments; and


•	determination of other-than-temporary impairment ("OTTI") of investments.

During the fourth quarter of 2016, following the receipt of updated information during the Company's reserving process and in response to a very challenging commercial auto market, the Company increased the reserve for loss and LAE in both our Diversified Reinsurance and AmTrust Reinsurance segments as well as our NGHC run-off business. The Company recorded unfavorable reserve development which reduced both its consolidated net income and net income attributable to Maiden by approximately $120,426 or $1.55 per basic common share and $1.48 per diluted common share.

Investments — The Company currently classifies its fixed maturity investments as either available-for-sale ("AFS") or held-to-maturity ("HTM"). The AFS portfolio is reported at fair value. The HTM portfolio includes securities for which we have the ability and intent to hold to maturity or redemption. The HTM portfolio is reported at amortized cost. When a security is transferred from AFS to HTM, the fair value at the time of transfer, adjusted for subsequent amortization, becomes the security's amortized cost. The fair value of fixed maturity investments is generally determined from quotations received from nationally recognized pricing services ("Pricing Service"), or when such prices are not available, by reference to broker or underwriter bid indications. Short-term investments comprise securities due to mature within one year of the date of purchase. The Company held no short-term investments as at December 31, 2016 and 2015.

The Company's other investments comprise both quoted and unquoted investments. The Company's quoted equity investment's fair value is based on a quoted market price from a Pricing Service, reflecting the closing price quoted for the final trading day of the period. The Company accounts for its unquoted other investments at fair value in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 944, "Financial Services - Insurance" ("ASC 944"). Unquoted other investments primarily comprise of investments in limited partnerships which are reported at fair value based on the financial information received from the fund managers and other information available to management.

2. Significant Accounting Policies (continued)

Unrealized gains or losses on fixed maturities and other investments are reported as a component of accumulated other comprehensive income ("AOCI"). The net unrealized holding gains of securities transferred from AFS to HTM at the designation date continue to be reported in the carrying value of the HTM securities and is amortized through Other Comprehensive Income over the remaining life of the securities using the effective yield method in a manner consistent with the amortization of any premium or discount.

Purchases and sales of investments are recorded on a trade date basis. Realized gains or losses on sales of investments are determined based on the first in first out cost method. Net investment income is recognized when earned and includes interest and dividend income together with amortization of market premiums and discounts using the effective yield method and is net of investment management fees. For our U.S. government agency mortgage-backed securities ("Agency MBS") and any other holdings for which there is a prepayment risk, prepayment assumptions are evaluated and revised as necessary. Any adjustments required due to the change in effective yields and maturities are recognized on a prospective basis through yield adjustments.

A security is potentially impaired when its fair value is below its amortized cost. On a quarterly basis, we review all impaired securities to determine if the impairment is OTTI. OTTI assessments are inherently judgmental, especially where securities have experienced severe declines in fair value in a short period. Our review process begins with a quantitative analysis to identify securities to be further evaluated for potential OTTI. For all identified securities, further fundamental analysis is performed that considers, but not limited to, the following quantitative and qualitative factors:


•	Historic and implied volatility of the security;


•	Length of time and extent to which the fair value has been less than amortized cost;


•	Adverse conditions specifically related to the security or to specific conditions in an industry or geographic area;


•	Failure, if any, of the issuer of the security to make scheduled payments; and


•	Recoveries or additional declines in fair value subsequent to the balance sheet date.

The Company recognizes OTTI in earnings for its impaired fixed maturity securities (i) for which the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the debt security before its anticipated recovery and (iii) for those securities which have a credit loss. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. In instances in which a determination is made that an impairment exists but the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before the anticipated recovery of its remaining amortized cost basis, the impairment is separated into (i) the amount of the total impairment related to the credit loss and (ii) the amount of the total impairment related to all other factors. The amount of the total OTTI related to the credit loss is recognized in earnings. The amount of the total OTTI related to all other factors is recognized in other comprehensive income. In periods after the recognition of OTTI on the Company’s fixed maturity securities, the Company accounts for such securities as if they had been purchased on the measurement date of the OTTI at an amortized cost basis equal to the previous amortized cost basis less the OTTI recognized in earnings. For fixed maturity securities in which OTTI was recognized in earnings, the difference between the new amortized cost basis and the cash flows expected to be collected will be amortized into net investment income.

As our investment portfolio is the largest component of our consolidated assets, OTTI on our fixed maturity securities could be material to our financial condition and operating results particularly during periods of dislocation in the financial markets.

Fair Value Measurements — ASC Topic 820, "Fair Value Measurements and Disclosures" ("ASC 820") defines fair value as the price that would be received upon the sale of an asset or paid to transfer a liability (i.e. the "exit price") in an orderly transaction between open market participants at the measurement date. Additionally, ASC 820 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

•

Level 1 — Valuations based on unadjusted quoted market prices for identical assets or liabilities that we have the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. Examples of assets and liabilities utilizing Level 1 inputs include: exchange-traded equity securities and U.S. Treasury bonds;

•

Level 2 — Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, or valuations based on models where the significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. Examples of assets and liabilities utilizing Level 2 inputs include: U.S. government-sponsored agency securities; non-U.S. government and supranational obligations; commercial mortgage-backed securities ("CMBS"); collateralized loan obligations ("CLO"); corporate and municipal bonds; and

2. Significant Accounting Policies (continued)


•	Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use. Examples of assets and liabilities utilizing Level 3 inputs include: insurance and reinsurance derivative contracts; and hedge and credit funds with partial transparency.

The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors, including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. We use prices and inputs that are current at the measurement date. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified between levels.

For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in the Level 1 hierarchy. The Company receives the quoted market prices from a third party nationally recognized provider, the Pricing Service. When quoted market prices are unavailable, the Company utilizes the Pricing Service to determine an estimate of fair value. The fair value estimates are included in the Level 2 hierarchy. The Company will challenge any prices for its investments which are considered not to be representation of fair value. If quoted market prices and an estimate from the Pricing Service are unavailable, the Company produces an estimate of fair value based on dealer quotations for recent activity in positions with the same or similar characteristics to that being valued or through consensus pricing of a pricing service. The Company determines whether the fair value estimate is in the Level 2 or Level 3 hierarchy depending on the level of observable inputs available when estimating the fair value. The Company bases its estimates of fair values for assets on the bid price as it represents what a third party market participant would be willing to pay in an orderly transaction.

Cash and Cash Equivalents — The Company maintains its cash accounts in several banks and brokerage institutions. Cash equivalents consist of investments in money market funds and short-term investments with an original maturity of 90 days or less and are stated at cost, which approximates fair value. Restricted cash and cash equivalents are separately reported in the Consolidated Balance Sheets. Accordingly, changes in restricted cash and cash equivalents are reported as an investing activity in our Consolidated Statements of Cash Flows. The Company maintains certain cash and investments in trust accounts to be used primarily as collateral for unearned premiums and loss and LAE reserves owed to insureds. The Company is required to maintain minimum balances in these accounts based on pre-determined formulas. See "Note 4. (e) Investments" for additional details.

Premiums and Related Expenses — For pro-rata contracts and excess-of-loss contracts where no deposit or minimum premium is specified in the contract, written premium is recognized based on estimates of ultimate premiums provided by the ceding companies. Initial estimates of written premium are recognized in the period in which the underlying risks are incepted. Subsequent adjustments, based on reports of actual premium by the ceding companies, or revisions in estimates, are recorded in the period in which they are determined. Reinsurance premiums assumed are generally earned on a pro-rata basis over the terms of the underlying policies or reinsurance contracts. Contracts and policies written on a "losses occurring" basis cover claims that may occur during the term of the contract or policy, which is typically 12 months. Accordingly, the premium is earned evenly over the term. Contracts which are written on a "risks attaching" basis cover claims which attach to the underlying insurance policies written during the terms of such contracts. Premiums earned on such contracts usually extend beyond the original term of the reinsurance contract, typically resulting in recognition of premiums earned over a 24-month period. Reinsurance premiums on specialty risk and extended warranty are earned based on the estimated program coverage period. These estimates are based on the expected distribution of coverage periods by contract at inception, because a single contract may contain multiple coverage period options, and these estimates are revised based on the actual coverage period selected by the original insured. Unearned premiums represent the portion of premiums written which is applicable to the unexpired term of the contract or policy in force. These premiums can be subject to estimates based upon information received from ceding companies and any subsequent differences arising on such estimates are recorded in the period in which they are determined.

The unexpired portion of reinsurance purchased by the Company (retrocession or reinsurance premiums ceded) is included in other assets and amortized over the contract period in proportion to the amount of insurance protection provided. The ultimate amount of premiums, including adjustments, is recognized as premiums ceded, and amortized over the applicable contract period to which they apply. Losses recoverable are recorded as an asset called reinsurance recoverable on unpaid losses. Premiums earned are reported net of reinsurance in the Consolidated Statements of Income.

Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. No deposit contracts are held as at December 31, 2016 and 2015.

Acquisition expenses represent the costs of writing business that vary with, and are primarily related to, the production of the business. Policy and contract acquisition expenses, including assumed commissions and other direct operating expenses that are related to successful contracts are deferred and recognized as expense as related premiums are earned.

2. Significant Accounting Policies (continued)

Only certain expenses incurred in the successful acquisition of new and renewal insurance contracts are capitalized. Those expenses include incremental direct costs of contract acquisition that result directly from and are essential to the contract transaction and would not have been incurred had the contract transaction not occurred. All other acquisition-related expenses, such as costs incurred for soliciting business, administration, and unsuccessful acquisition or renewal efforts are charged to expense as incurred. Administrative expenses, including rent, depreciation, occupancy, equipment, and all other general overhead expenses are considered indirect and are expensed as incurred.

The Company considers anticipated investment income in determining the recoverability of these costs and believes they are fully recoverable. A premium deficiency is recognized if the sum of anticipated losses and loss adjustment expenses, unamortized acquisition expenses and anticipated investment income exceed unearned premium.

Loss and Loss Adjustment Expenses Incurred — Loss and LAE represent the estimated ultimate net costs of all reported and unreported losses incurred through December 31. The reserve for loss and LAE is estimated using individual case-basis valuations and statistical analysis and is not discounted. Although considerable variability is inherent in the estimates of reserves for loss and LAE, management believes that the reserve for loss and LAE is adequate. In estimating reserves, the Company utilizes a variety of standard actuarial methods. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes known. Such adjustments are included in current operations.

Reinsurance — Reinsurance premiums and loss and LAE ceded to other companies are accounted for on a basis consistent with those used in accounting for original policies issued and pursuant to the terms of the reinsurance contracts. The Company records premiums earned and loss and LAE incurred and ceded to other companies as reduction of premium revenue and loss and LAE. The Company accounts for commissions allowed by reinsurers on business ceded as ceding commission, which is a reduction of acquisition costs and other underwriting expenses. The Company earns commissions on reinsurance premiums ceded in a manner consistent with the recognition of the earned premium on the underlying insurance policies, on a pro-rata basis over the terms of the policies reinsured. Reinsurance recoverable relate to the portion of reserves and paid loss and LAE that are ceded to other companies. The Company remains contingently liable for all loss payments in the event of failure to collect from reinsurers.

Ceding Commissions on Reinsurance Transactions — Ceding commissions on reinsurance transactions are commissions the Company receives from ceding gross written premiums to third party reinsurers. The ceding commissions the Company receives cover a portion of its capitalized acquisition costs and a portion of other underwriting expenses. Ceding commissions received from reinsurance transactions that represent recovery of capitalized direct acquisition costs are recorded as a reduction of deferred acquisition costs and the net amount is charged to expense in proportion to net premium revenue recognized. Ceding commissions received from reinsurance transactions that represent the recovery of other underwriting expenses are recognized in the statement of income over the insurance contract period in proportion to the insurance protection provided and classified as a reduction of acquisition costs and other underwriting expenses. Ceding commissions received, but not yet earned, that represent the recovery of other underwriting expenses are classified as a component of accrued expenses and other current liabilities. The Company allocates earned ceding commissions to its segments based on each segment’s proportionate share of total acquisition costs and other underwriting expenses recognized during the period.

Debt Obligations and Deferred Debt Issuance Costs — Costs incurred in issuing debt are capitalized and amortized over the life of the debt. The amortization of these costs is included in interest and amortization expenses in the Consolidated Statements of Income. The unamortized amount of these costs is presented as a deduction from the related liability in the Consolidated Balance Sheet.

Goodwill and Intangible Assets — A purchase price that is in excess of the fair value of the net assets acquired arising from a business combination is recorded as goodwill, and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful life of the asset. Other intangible assets with an indefinite useful life are not amortized.

Goodwill and other indefinite life intangible assets are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable. Finite life intangible assets are reviewed for indicators of impairment on an annual basis or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable, and tested for impairment if appropriate. For purposes of the annual impairment evaluation, goodwill is assigned to the applicable reporting unit of the acquired entities giving rise to the goodwill.

We have established October 1 as the date for performing the annual impairment tests. If goodwill or other intangible assets are impaired, they are written down to their estimated fair values with a corresponding loss reflected in the Consolidated Statements of Income.

2. Significant Accounting Policies (continued)

Noncontrolling Interests — The Company accounts for its noncontrolling interests in accordance with ASC Topic 810 "Consolidations", and presents such noncontrolling shareholders' interest in the equity section of the Consolidated Balance Sheets. Net income (loss) attributable to noncontrolling interests is presented separately in the Consolidated Statements of Income.

Income Taxes — The Company accounts for income taxes using ASC Topic 740 "Income Taxes" for its subsidiaries operating in taxable jurisdictions. Deferred income taxes reflect the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. A valuation allowance is recorded if it is more likely than not that some or all of a deferred tax asset may not be realized. The Company considers future taxable income and feasible tax planning strategies in assessing the need for a valuation allowance. In the event the Company determines that it will not be able to realize all or part of its deferred income tax assets in the future, an adjustment to the deferred income tax assets would be charged to income in the period in which such determination is made. In addition, if the Company subsequently assesses that the valuation allowance is no longer needed, a benefit would be recorded to income in the period in which such determination is made. U.S. GAAP allows for the recognition of tax benefits of uncertain tax positions only where the position is more likely than not to be sustained assuming examination by tax authorities. A liability is established for any tax benefit claimed in a tax return in excess of this threshold. Income tax related interest and penalties would be included as income tax expense. The Company has not recorded or accrued any interest or penalties during the years ended December 31, 2016, 2015 and 2014.

Share-Based Compensation Expense — The Company is authorized to issue restricted share awards and units, performance based restricted share units ("PB-RSUs"), share options and other equity-based awards to its employees and directors. The Company recognizes the compensation expense for share options, restricted share and share unit grants, based on the fair value of the award on the date of grant (including estimates for future forfeitures), over the vesting period, which is the requisite service period. The estimated fair value of the grant will be amortized ratably over its vesting period as a charge to compensation expense (a component of general and administrative expenses) and an increase to additional paid in capital in Shareholders’ Equity.

The estimated fair value of the PB-RSUs is recognized as a charge to compensation expense and an increase to additional paid in capital in Shareholders’ Equity following certain criteria such as operating return on common equity, underwriting performance, revenue growth and operating expense being met during the specified performance period as well as based on the recommendation of the Company's Chief Executive Officer ("CEO") and the discretion of the Compensation Committee of the Board of Directors.

Earnings Per Share — Basic earnings per share are computed based on the weighted-average number of common shares outstanding and exclude any dilutive effects of options and restricted share units ("RSUs"). Dilutive earnings per share are computed using the weighted-average number of common shares outstanding during the period adjusted for the dilutive impact of share options, RSUs, PB-RSUs and the mandatory convertible preference shares using the if-converted method.

The two-class method is used to determine earnings per share based on dividends declared on common shares and participating securities (i.e. distributed earnings) and participation rights of participating securities in any undistributed earnings. Each unvested restricted share granted by the Company to certain senior leaders is considered a participating security and the Company uses the two-class method to calculate its net income attributable to Maiden common shareholders per common share – basic and diluted.

Treasury Shares — Treasury shares are common shares repurchased by the Company and not subsequently cancelled. These shares are recorded at cost and result in a reduction of our shareholders’ equity in the Consolidated Balance Sheets.

Foreign Currency Transactions — The functional currency of the Company and many of its subsidiaries is the U.S. dollar. For these companies, we translate monetary assets and liabilities denominated in foreign currencies at year-end exchange rates, with the resulting foreign exchange gains and losses recognized in the Consolidated Statements of Income. Revenues and expenses in foreign currencies are converted at average exchange rates during the year. Monetary assets and liabilities include cash and cash equivalents, reinsurance balances receivable, reserve for loss and LAE and accrued expenses and other liabilities. Accounts that are classified as non-monetary, such as deferred commission and other acquisition expenses and unearned premiums, are not revalued.

Assets and liabilities of subsidiaries and divisions, whose functional currency is not the U.S. dollar, are translated at year-end exchange rates. Revenues and expenses of these entities are translated at average exchange rates during the year. The effects of the translation adjustments for foreign entities are included in AOCI. The amount of cumulative translation adjustment at December 31, 2016 was $35,713 (2015 - $30,345).

2. Significant Accounting Policies (continued)

Recently Adopted Accounting Standards Updates

Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)

In May 2015, the FASB issued Accounting Standards Update ("ASU") No. 2015-07 which removes the requirement to categorize all investments for which fair value is measured using the net asset value per share practical expedient within the fair value hierarchy. ASU 2015-07 also removes the requirement to make certain disclosures for investments that are eligible to be measured at fair value using the net asset value per share practical expedient, unless the entity has elected to measure the fair value using that practical expedient. For public business entities, this guidance will be effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. Earlier application is permitted. The Company adopted ASU 2015-07 on January 1, 2016. As this guidance is disclosure-related only, the adoption of this guidance did not have a material impact on the Company’s financial statements.

Disclosures about Short-Duration Contracts

In May 2015, the FASB issued ASU 2015-09 which is aimed at providing users of financial statements with more transparent information about an insurance entity’s initial claim estimates and subsequent adjustments to those estimates, methodologies and judgments in estimating claims, and the timing, frequency and severity of claims. The new disclosures are required for short-duration insurance contracts issued by insurers. For public business entities, this guidance will be effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted and should be applied retrospectively by providing comparative disclosures for each period presented. The Company adopted ASU 2015-09 for the annual period ending December 31, 2016. As this guidance is disclosure-related only, the adoption of this guidance did not have a material impact on the Company’s statements of income and financial position. See "Note 9. Reserve for Loss and Loss Adjustment Expenses" for additional details.

Simplifying the Presentation of Debt Issuance Costs

Effective January 1, 2016, the Company adopted the new guidance under ASU 2015-03 which requires that debt issuance costs be presented as a direct deduction from the related debt liability rather than as an asset in the balance sheet. The amortization of such costs is reported as an interest expense. The Company applied this new guidance retrospectively to all prior periods presented. The adoption of this new guidance reduced the December 31, 2015 audited consolidated total assets and total liabilities by $10,067, respectively, representing the amount of unamortized issuance costs related to our Senior Notes which was previously presented as part of other assets. There was no impact on the net income, related per-share amounts or the retained earnings for the periods affected by the adoption of this guidance.

Recently Issued Accounting Standards Not Yet Adopted

Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the FASB issued ASU 2016-01 that will change how entities measure certain equity investments and present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new guidance also changes certain disclosure requirements and other aspects of current U.S. GAAP. It does not change the guidance for classifying and measuring investments in debt securities and loans. Under the new guidance, entities will have to measure many equity investments at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicability exception. This includes investments in partnerships, unincorporated joint ventures and limited liability companies that do not result in consolidation and are not accounted for under the equity method. Entities will no longer be able to recognize unrealized holding gains and losses on equity securities they classify today as AFS in AOCI. They also will no longer be able to use the cost method of accounting for equity securities that do not have readily determinable fair values. The guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The impact on the Company is immaterial.

Accounting for Leases

In February 2016, the FASB issued final ASC 842 guidance that requires lessees to put most leases on their balance sheets but recognize expenses on their income statement in a manner similar to today's accounting. The guidance also eliminates today's real-estate-specific provisions for all entities. All entities classify leases to determine how to recognize lease-related revenue and expense. The U.S. GAAP standard is effective for public business entities and certain not-for-profit entities and employee benefit plans for annual periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted for all entities. Since the Company currently has various operating leases, we expect this guidance to have an impact on its consolidated financial statements, primarily to the consolidated balance sheets and related footnote disclosures. However, the Company is currently unable to quantify the impact of adopting this guidance.

2. Significant Accounting Policies (continued)

Improvements to Employee Share-Based Payment Accounting

In March 2016, the FASB issued ASU 2016-09 guidance that outlines changes for certain aspects of share-based payments to employees, such as accounting for forfeitures, which applies to the Company. Under the new guidance, the entities can elect to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The guidance is effective for public business entities for fiscal year beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted for all entities, in any annual or interim period for which financial statements haven't been issued or made available for issuance, but all of the guidance must be adopted in the same period. Based on the Company's history, forfeitures have never been material, therefore, we don't expect that the adoption of this guidance would have a material impact on the Company's consolidated financial statements.

Accounting for Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued ASU 2016-13 guidance that changes the impairment model for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace today's "incurred loss" approach with an "expected loss" model for instruments measured at amortized cost and require entities to record allowances for AFS debt securities rather than reduce the carrying amount, as they do today under the OTTI model. It also simplifies the accounting model for purchased credit-impaired debt securities and loans. Entities will apply the standard's provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The guidance is effective for public business entities for annual periods beginning after December 15, 2019, and interim periods therein. The Company is currently unable to quantify the impact of adopting this guidance.

Classification of Certain Cash Receipts and Cash Payments

In August 2016, the FASB issued ASU 2016-15 guidance to clarify how entities should classify certain cash receipts and cash payments on the statement of cash flows. The new guidance amends ASC 230 Statement of Cash Flows, a principles based requiring judgment to determine the appropriate classification of cash flow as operating, investing or financing activities which created diversity in how certain cash receipts and cash payments were classified. The new guidance clarifies that if a receipt or payment has aspects of more than one class of cash flows and cannot be separated, the classification will depend on the predominant source or use. While the new guidance attempts to clarify how the predominance principle should be applied, judgment will still be required. The guidance is effective for public business entities for annual periods beginning after December 15, 2017 and interim periods therein. Early adoption is permitted. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. The impact on the Company's results of operations, financial position or liquidity at the date of adoption of the updated guidance will be determined by the financial instruments held by the Company and the economic conditions at that time.

Presentation of Restricted Cash in the Statement of Cash Flows

In November 2016, the FASB issued ASU 2016-18 guidance that require entities to show the changes in the total cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. As result, entities will no longer present transfers between cash and cash equivalents and restricted cash and cash equivalents in the statement of cash flows. When cash, cash equivalents, restricted cash and restricted cash equivalents are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. The guidance is effective for public business entities for fiscal years beginning after December 15, 2018 and interim periods within fiscal year beginning after December 15, 2019. Early adoption is permitted, but an early adoption in an interim period must show adjustments as of the beginning of the fiscal year that includes that interim period. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial condition, results of operations and disclosures, other than the presentation of restricted cash and cash equivalents in the statement of cash flows. The financial impact in the consolidated cash flows will depend on the actual amount of restricted cash and cash equivalents at the time of adoption.

Simplified Accounting for Goodwill Impairment

In February 2017, the FASB issued ASU 2017-04 guidance that simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today's two-step impairment test under ASC 350 Intangibles - Goodwill and Other. Under the new guidance, if a reporting unit's carrying value amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The standard eliminates today's requirement to calculate goodwill impairment using Step 2, which calculates any impairment charge by comparing the implied fair value of goodwill with its carrying amount. The standard does not change the guidance on completing Step 1 of the goodwill impairment test. The standard has tiered effective dates, starting in 2020 for calendar public business entities that meet the definition of an SEC filer. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is currently unable to quantify the impact of adopting this guidance.

Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

The Company currently has two reportable segments: Diversified Reinsurance and AmTrust Reinsurance. Our Diversified Reinsurance segment consists of a portfolio of predominantly property and casualty reinsurance business focusing on regional and specialty property and casualty insurance companies located, primarily, in the U.S. and Europe. Our AmTrust Reinsurance segment includes all business ceded to Maiden Bermuda from AmTrust Financial Services, Inc. ("AmTrust"), primarily the AmTrust Quota Share and the European Hospital Liability Quota Share. In addition to our reportable segments, the results of operations of the former NGHC Quota Share segment and the remnants of the U.S. excess and surplus business have been included in the "Other" category. Please refer to "Note 10. Related Party Transactions" for additional information.

The Company evaluates segment performance based on segment profit separately from the results of our investment portfolio. General and administrative expenses are allocated to the segments on an actual basis except salaries and benefits where management’s judgment is applied. The Company does not allocate general corporate expenses to the segments. In determining total assets by reportable segment, the Company identifies those assets that are attributable to a particular segment such as reinsurance balances receivable, reinsurance recoverable on unpaid losses, deferred commission and other acquisition expenses, loans, goodwill and intangible assets, restricted cash and cash equivalents and investments and prepaid reinsurance premiums (presented as part of other assets in the Consolidated Balance Sheet). All remaining assets are allocated to Corporate.

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Year Ended December 31, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	824,341		$	2,006,646		$	361		$	2,831,348
Net premiums written	$	766,119		$	1,888,428		$	405		$	2,654,952
Net premiums earned	$	724,124		$	1,843,621		$	405		$	2,568,150
Other insurance revenue	10,817			—			—			10,817
Net loss and LAE	(579,520		)	(1,225,830		)	(14,556		)	(1,819,906		)
Commission and other acquisition expenses	(188,506		)	(584,820		)	(338		)	(773,664		)
General and administrative expenses	(35,681		)	(2,896		)	—			(38,577		)
Underwriting (loss) income	$	(68,766	)	$	30,075		$	(14,489	)	(53,180		)
Reconciliation to net income
Net investment income and realized gains on investment										152,666
Interest and amortization expenses										(28,173		)
Accelerated amortization of senior note issuance cost										(2,345		)
Amortization of intangible assets										(2,461		)
Foreign exchange and other gains, net										11,612
Other general and administrative expenses										(28,407		)
Income tax expense										(1,574		)
Net income										$	48,138

Net loss and LAE ratio⁽¹⁾	78.9		%	66.5		%				70.6		%
Commission and other acquisition expense ratio⁽²⁾	25.6		%	31.7		%				30.0		%
General and administrative expense ratio⁽³⁾	4.9		%	0.2		%				2.6		%
Combined ratio⁽⁴⁾	109.4		%	98.4		%				103.2		%

3. Segment Information (continued)



For the Year Ended December 31, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	776,852		$	1,885,974		$	(1	)	$	2,662,825
Net premiums written	$	734,781		$	1,779,334		$	1		$	2,514,116
Net premiums earned	$	744,875		$	1,684,191		$	3		$	2,429,069
Other insurance revenue	11,512			—			—			11,512
Net loss and LAE	(547,296		)	(1,074,072		)	(12,202		)	(1,633,570		)
Commission and other acquisition expenses	(196,292		)	(527,863		)	(42		)	(724,197		)
General and administrative expenses	(35,312		)	(3,016		)	—			(38,328		)
Underwriting (loss) income	$	(22,513	)	$	79,240		$	(12,241	)	44,486
Reconciliation to net income
Net investment income and realized gains on investment										133,590
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(29,063		)
Amortization of intangible assets										(2,840		)
Foreign exchange and other gains, net										7,753
Other general and administrative expenses										(26,544		)
Income tax expense										(2,038		)
Net income										$	124,284

Net loss and LAE ratio⁽¹⁾	72.3		%	63.8		%				66.9		%
Commission and other acquisition expense ratio⁽²⁾	26.0		%	31.3		%				29.7		%
General and administrative expense ratio⁽³⁾	4.7		%	0.2		%				2.7		%
Combined ratio⁽⁴⁾	103.0		%	95.3		%				99.3		%

3. Segment Information (continued)



For the Year Ended December 31, 2014	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	897,748		$	1,610,485		$	(881	)	$	2,507,352
Net premiums written	$	850,049		$	1,610,485		$	(2,398	)	$	2,458,136
Net premiums earned	$	854,026		$	1,378,327		$	19,390		$	2,251,743
Other insurance revenue	13,410			—			—			13,410
Net loss and LAE	(579,771		)	(893,502		)	(24,998		)	(1,498,271		)
Commission and other acquisition expenses	(233,711		)	(418,908		)	(6,696		)	(659,315		)
General and administrative expenses	(38,858		)	(2,533		)	(757		)	(42,148		)
Underwriting income (loss)	$	15,096		$	63,384		$	(13,061	)	65,419
Reconciliation to net income
Net investment income and realized gains on investment										118,378
Net impairment losses recognized in earnings										(2,364		)
Interest and amortization expenses										(29,959		)
Accelerated amortization of debt discount and issuance cost										(28,240		)
Amortization of intangible assets										(3,277		)
Foreign exchange and other gains, net										4,150
Other general and administrative expenses										(20,410		)
Income tax expense										(2,164		)
Net income										$	101,533

Net loss and LAE ratio ⁽¹⁾	66.8		%	64.8		%				66.1		%
Commission and other acquisition expense ratio ⁽²⁾	26.9		%	30.4		%				29.1		%
General and administrative expense ratio ⁽³⁾	4.6		%	0.2		%				2.8		%
Combined ratio⁽⁴⁾	98.3		%	95.4		%				98.0		%


(1)	Calculated by dividing net loss and LAE by the sum of net premiums earned and other insurance revenue.


(2)	Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue.


(3)	Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue.


(4)	Calculated by adding together net loss and LAE ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

3. Segment Information (continued)

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at December 31, 2016 and 2015:



December 31, 2016	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	281,073	$	119,151	$	400,224
Reinsurance recoverable on unpaid losses	54,299		32,933		87,232
Deferred commission and other acquisition expenses	85,432		339,173		424,605
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	77,715		—		77,715
Restricted cash and cash equivalents and investments	1,364,844		3,020,759		4,385,603
Other assets	41,008		103,025		144,033
Total assets - reportable segments	$	1,904,371	$	3,783,016	5,687,387
Corporate assets					564,912
Total Assets					$	6,252,299

December 31, 2015	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	230,223	$	137,586	$	367,809
Reinsurance recoverable on unpaid losses	38,390		14,230		52,620
Deferred commission and other acquisition expenses	80,012		317,536		397,548
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	81,920		—		81,920
Restricted cash and cash equivalents and investments	1,178,076		2,468,689		3,646,765
Other assets	35,920		72,843		108,763
Total assets - reportable segments	$	1,644,541	$	3,178,859	4,823,400
Corporate assets					880,178
Total Assets					$	5,703,578

The following table shows an analysis of the Company’s gross and net premiums written and net premiums earned by geographic location for the years ended December 31, 2016, 2015 and 2014. In case of business assumed from AmTrust, it is the location of the relevant AmTrust subsidiaries.



For the Year Ended December 31,	2016		2015		2014
Gross premiums written – North America	$	2,442,483	$	2,165,309	$	1,979,768
Gross premiums written – Other (predominantly Europe)	388,865		497,516		527,584
Gross premiums written – Total	$	2,831,348	$	2,662,825	$	2,507,352
Net premiums written – North America	$	2,280,232	$	2,038,444	$	1,934,644
Net premiums written – Other (predominantly Europe)	374,720		475,672		523,492
Net premiums written – Total	$	2,654,952	$	2,514,116	$	2,458,136
Net premiums earned – North America	$	2,184,184	$	2,027,141	$	1,778,579
Net premiums earned – Other (predominantly Europe)	383,966		401,928		473,164
Net premiums earned – Total	$	2,568,150	$	2,429,069	$	2,251,743

3. Segment Information (continued)

The following tables set forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31,	2016				2015				2014
	Total		% of Total		Total		% of Total		Total			% of Total
Net premiums written
Diversified Reinsurance
Property	$	141,353	5.3	%	$	160,939	6.4	%	$	160,308		6.5	%
Casualty	466,089		17.6	%	435,625		17.3	%	535,518			21.8	%
Accident and Health	80,004		3.0	%	64,102		2.6	%	38,870			1.6	%
International	78,673		3.0	%	74,115		2.9	%	115,353			4.7	%
Total Diversified Reinsurance	766,119		28.9	%	734,781		29.2	%	850,049			34.6	%
AmTrust Reinsurance
Small Commercial Business	1,181,496		44.5	%	1,057,968		42.1	%	857,576			34.9	%
Specialty Program	344,677		13.0	%	332,416		13.2	%	220,121			8.9	%
Specialty Risk and Extended Warranty	362,255		13.6	%	388,950		15.5	%	532,788			21.7	%
Total AmTrust Reinsurance	1,888,428		71.1	%	1,779,334		70.8	%	1,610,485			65.5	%
Other	405		—	%	1		—	%	(2,398		)	(0.1	)%
	$	2,654,952	100.0	%	$	2,514,116	100.0	%	$	2,458,136		100.0	%

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31,	2016				2015				2014
	Total		% of Total		Total		% of Total		Total		% of Total
Net premiums earned
Diversified Reinsurance
Property	$	136,629	5.3	%	$	157,186	6.5	%	$	174,785	7.7	%
Casualty	432,509		16.8	%	449,000		18.5	%	533,775		23.7	%
Accident and Health	74,204		2.9	%	55,672		2.3	%	39,918		1.8	%
International	80,782		3.2	%	83,017		3.4	%	105,548		4.7	%
Total Diversified Reinsurance	724,124		28.2	%	744,875		30.7	%	854,026		37.9	%
AmTrust Reinsurance
Small Commercial Business	1,131,582		44.1	%	984,333		40.5	%	752,188		33.4	%
Specialty Program	337,396		13.1	%	290,209		11.9	%	175,286		7.8	%
Specialty Risk and Extended Warranty	374,643		14.6	%	409,649		16.9	%	450,853		20.0	%
Total AmTrust Reinsurance	1,843,621		71.8	%	1,684,191		69.3	%	1,378,327		61.2	%
Other	405		—	%	3		—	%	19,390		0.9	%
	$	2,568,150	100.0	%	$	2,429,069	100.0	%	$	2,251,743	100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Investments

12 Months Ended

Dec. 31, 2016

Schedule of Investments [Abstract]

Investments

a) Fixed Maturities and Other Investments

During 2016, we designated additional fixed maturities with a total fair value of $155,538 (2015 - $608,722) as HTM reflecting our intent to hold these securities to maturity. The net unrealized holding gain of $15,770 (2015 - $244) at the designation date continues to be reported in the carrying value of the HTM securities and is amortized through other comprehensive income over the remaining life of the securities using the effective yield method in a manner consistent with the amortization of any premium or discount.

The original or amortized cost, estimated fair value and gross unrealized gains and losses of fixed maturities and other investments at December 31, 2016 and 2015, are as follows:



December 31, 2016	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,186	$	238	$	(11	)	$	5,413
U.S. agency bonds – mortgage-backed	1,720,436		12,867		(17,265		)	1,716,038
U.S. agency bonds – other	18,082		20		—			18,102
Non-U.S. government and supranational bonds	35,158		73		(5,297		)	29,934
Asset-backed securities	217,232		3,713		(69		)	220,876
Corporate bonds	1,947,347		30,951		(62,093		)	1,916,205
Municipal bonds	62,201		2,897		—			65,098
Total AFS fixed maturities	4,005,642		50,759		(84,735		)	3,971,666
HTM fixed maturities:
Corporate bonds	752,212		16,370		(2,447		)	766,135
Total HTM fixed maturities	752,212		16,370		(2,447		)	766,135
Other investments	10,057		3,003		—			13,060
Total investments	$	4,767,911	$	70,132	$	(87,182	)	$	4,750,861



December 31, 2015	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,714	$	312	$	(16	)	$	6,010
U.S. agency bonds – mortgage-backed	1,471,782		15,399		(10,190		)	1,476,991
U.S. agency bonds – other	23,734		577		—			24,311
Non-U.S. government and supranational bonds	35,128		—		(4,584		)	30,544
Asset-backed securities	165,719		1,174		(1,089		)	165,804
Corporate bonds	1,798,610		38,070		(97,012		)	1,739,668
Municipal bonds	62,177		2,583		—			64,760
Total AFS fixed maturities	3,562,864		58,115		(112,891		)	3,508,088
HTM fixed maturities:
Corporate bonds	607,843		3,458		(12,326		)	598,975
Total HTM fixed maturities	607,843		3,458		(12,326		)	598,975
Other investments	10,816		1,091		(95		)	11,812
Total investments	$	4,181,523	$	62,664	$	(125,312	)	$	4,118,875

4. Investments (continued)

The contractual maturities of our fixed maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.



	AFS fixed maturities				HTM fixed maturities
December 31, 2016	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	69,278	$	61,219	$	—	$	—
Due after one year through five years	578,034		560,141		260,557		263,990
Due after five years through ten years	1,378,403		1,371,356		486,568		497,101
Due after ten years	42,259		42,036		5,087		5,044
	2,067,974		2,034,752		752,212		766,135
U.S. agency bonds – mortgage-backed	1,720,436		1,716,038		—		—
Asset-backed securities	217,232		220,876		—		—
Total fixed maturities	$	4,005,642	$	3,971,666	$	752,212	$	766,135

The following tables summarize fixed maturities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position:



	Less than 12 Months					12 Months or More					Total
December 31, 2016	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	589	$	(11	)	$	—	$	—		$	589	$	(11	)
U.S. agency bonds – mortgage-backed	997,943		(14,440		)	47,969		(2,825		)	1,045,912		(17,265		)
Non–U.S. government and supranational bonds	3,169		(160		)	25,236		(5,137		)	28,405		(5,297		)
Asset-backed securities	30,589		(69		)	—		—			30,589		(69		)
Corporate bonds	642,599		(15,058		)	357,954		(49,482		)	1,000,553		(64,540		)
Total temporarily impaired fixed maturities	$	1,674,889	$	(29,738	)	$	431,159	$	(57,444	)	$	2,106,048	$	(87,182	)

4. Investments (continued)

At December 31, 2016, there were approximately 251 securities in an unrealized loss position with a fair value of $2,106,048 and unrealized losses of $87,182. Of these securities, there were 91 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $431,159 and unrealized losses of $57,444.



	Less than 12 Months					12 Months or More					Total
December 31, 2015	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	1,119	$	(16	)	$	—	$	—		$	1,119	$	(16	)
U.S. agency bonds – mortgage-backed	443,331		(4,113		)	170,053		(6,077		)	613,384		(10,190		)
Non-U.S. government and supranational bonds	6,958		(365		)	22,586		(4,219		)	29,544		(4,584		)
Asset-backed securities	89,838		(1,089		)	—		—			89,838		(1,089		)
Corporate bonds	752,911		(41,352		)	399,779		(67,986		)	1,152,690		(109,338		)
Total temporarily impaired fixed maturities	1,294,157		(46,935		)	592,418		(78,282		)	1,886,575		(125,217		)
Other investments	4,905		(95		)	—		—			4,905		(95		)
Total temporarily impaired fixed maturities and other investments	$	1,299,062	$	(47,030	)	$	592,418	$	(78,282	)	$	1,891,480	$	(125,312	)

At December 31, 2015, there were approximately 270 securities in an unrealized loss position with a fair value of $1,891,480 and unrealized losses of $125,312. Of these securities, there were 93 securities that have been in an unrealized loss position for 12 months or greater with a fair value of $592,418 and unrealized losses of $78,282.

OTTI

The Company performs quarterly reviews of its fixed maturities in order to determine whether declines in fair value below the amortized cost basis were considered other-than-temporary in accordance with applicable guidance. At December 31, 2016, we have determined that the unrealized losses on fixed maturities were primarily due to widening of credit and interest rate spreads as well as the impact of foreign exchange rate changes on certain foreign currency denominated AFS fixed maturities since their date of purchase. Because we do not intend to sell these securities and it is not more likely than not that we will be required to do so until a recovery of fair value to amortized cost, we currently believe it is probable that we will collect all amounts due according to their respective contractual terms. Therefore, we do not consider these fixed maturities to be other-than-temporarily impaired at December 31, 2016. The Company has therefore recognized no OTTI through earnings for the year ended December 31, 2016. The Company recognized $1,060 and $2,364 of OTTI for the years ended December 31, 2015 and 2014, respectively.

The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at December 31, 2016	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	5,186	$	5,413	0.1	%
U.S. agency bonds	1,738,518		1,734,140		36.6	%
AAA	170,515		171,090		3.6	%
AA+, AA, AA-	238,315		237,169		5.0	%
A+, A, A-	1,386,023		1,374,860		29.0	%
BBB+, BBB, BBB-	1,053,529		1,047,376		22.2	%
BB+ or lower	165,768		167,753		3.5	%
Total fixed maturities	$	4,757,854	$	4,737,801	100.0	%

4. Investments (continued)



Ratings⁽¹⁾ at December 31, 2015	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	5,714	$	6,010	0.1	%
U.S. agency bonds	1,495,516		1,501,302		36.6	%
AAA	170,190		170,391		4.1	%
AA+, AA, AA-	222,506		223,084		5.4	%
A+, A, A-	1,075,550		1,066,794		26.0	%
BBB+, BBB, BBB-	1,077,064		1,039,228		25.3	%
BB+ or lower	124,167		100,254		2.5	%
Total fixed maturities	$	4,170,707	$	4,107,063	100.0	%


⁽¹⁾	Based on Standard & Poor’s ("S&P"), or equivalent, ratings

b) Other Investments

The table below shows our portfolio of other investments:



December 31,	2016				2015
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	5,474	41.9	%	$	5,907	50.0	%
Investment in quoted equity	6,586		50.4	%	4,905		41.5	%
Other	1,000		7.7	%	1,000		8.5	%
Total other investments	$	13,060	100.0	%	$	11,812	100.0	%

The Company has a remaining unfunded commitment on its investment in limited partnerships of approximately $463 at December 31, 2016 (2015 - $622).

c) Net Investment Income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2016			2015			2014
Fixed maturities	$	147,011		$	132,394		$	118,203
Cash and cash equivalents	3,328			2,578			2,224
Loan to related party	2,360			1,865			1,797
Other	118			312			246
	152,817			137,149			122,470
Investment expenses	(6,925		)	(6,057		)	(5,255		)
Net investment income	$	145,892		$	131,092		$	117,215

d) Realized Gains (Losses) on Investment

Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method. The following provides an analysis of net realized gains on investment included in the Consolidated Statements of Income:



For the Year Ended December 31, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,140	$	(916	)	$	6,224
Other investments	550		—			550
Net realized gains on investment	$	7,690	$	(916	)	$	6,774

4. Investments (continued)



For the Year Ended December 31, 2015	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,849	$	(543	)	$	2,306
Other investments	192		—			192
Net realized gains on investment	$	3,041	$	(543	)	$	2,498



For the Year Ended December 31, 2014	Gross gains		Gross losses			Net
AFS fixed maturities	$	1,334	$	(610	)	$	724
Other investments	439		—			439
Net realized gains on investment	$	1,773	$	(610	)	$	1,163

Proceeds from sales of fixed maturities classified as AFS were $129,306, $129,152 and $171,216 for the years ended December 31, 2016, 2015 and 2014, respectively.

Net unrealized (losses) gains were as follows:



December 31,	2016			2015			2014
Fixed maturities	$	(23,635	)	$	(55,024	)	$	77,040
Other investments	3,003			996			1,709
Total net unrealized (losses) gains	(20,632		)	(54,028		)	78,749
Deferred income tax	(84		)	(84		)	(170		)
Net unrealized (losses) gains, net of deferred income tax	$	(20,716	)	$	(54,112	)	$	78,579
Change, net of deferred income tax	$	33,396		$	(132,691	)	$	43,851

e) Restricted Cash and Cash Equivalents and Investments

We are required to maintain assets on deposit to support our reinsurance operations and to serve as collateral for our reinsurance liabilities under various reinsurance agreements. The assets on deposit are available to settle reinsurance liabilities. We also utilize trust accounts to collateralize business with our reinsurance counterparties. These trust accounts generally take the place of letter of credit requirements.

The assets in trust as collateral are primarily cash and highly rated fixed maturities. The fair value of our restricted assets was as follows:



December 31,	2016		2015
Restricted cash – third party agreements	$	56,891	$	102,837
Restricted cash – related party agreements	46,777		139,944
Restricted cash – U.S. state regulatory authorities	120		78
Total restricted cash	103,788		242,859
Restricted investments – in trust for third party agreements at fair value (Amortized cost: 2016 – $1,307,926; 2015 – $1,081,202)	1,299,569		1,067,602
Restricted investments AFS– in trust for related party agreements at fair value (Amortized cost: 2016 – $2,242,565; 2015 – $1,781,178)	2,225,066		1,754,705
Restricted investments HTM– in trust for related party agreements at fair value (Amortized cost: 2016 – $752,212; 2015 – $607,843)	766,135		598,975
Restricted investments – in trust for U.S. state regulatory authorities (Amortized cost: 2016 – $4,059; 2015 – $4,071)	4,238		4,303
Total restricted investments	4,295,008		3,425,585
Total restricted cash and investments	$	4,398,796	$	3,668,444

Fair Value Measurements

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

a) Fair Values of Financial Instruments

ASC 825, "Disclosure About Fair Value of Financial Instruments", requires all entities to disclose the fair value of their financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value.

The following describes the valuation techniques used by the Company to determine the fair value of financial instruments held at December 31, 2016 and 2015.

U.S. government and U.S. agency — Bonds issued by the U.S. Treasury, the Federal Home Loan Bank, the Federal Home Loan Mortgage Corporation, Government National Mortgage Association and the Federal National Mortgage Association. The fair values of U.S. treasury bonds are based on quoted market prices in active markets, and are included in the Level 1 fair value hierarchy. We believe the market for U.S. treasury bonds is an actively traded market given the high level of daily trading volume. The fair values of U.S. agency bonds are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. agency bonds are included in the Level 2 fair value hierarchy.

Non-U.S. government and supranational bonds — These securities are generally priced by independent pricing services. The Pricing Service may use current market trades for securities with similar quality, maturity and coupon. If no such trades are available, the Pricing Service typically uses analytical models which may incorporate spreads, interest rate data and market/sector news. As the significant inputs used to price non-U.S. government and supranational bonds are observable market inputs, the fair values of non-U.S. government and supranational bonds are included in the Level 2 fair value hierarchy.

Asset-backed securities — These securities comprise CMBS and CLO originated by a variety of financial institutions that on acquisition are rated BBB-/Baa3 or higher. These securities are priced by independent pricing services and brokers. The pricing provider applies dealer quotes and other available trade information, prepayment speeds, yield curves and credit spreads to the valuation. As the significant inputs used to price the CMBS and CLO are observable market inputs, the fair value of the CMBS and CLO is included in the Level 2 fair value hierarchy.

Corporate bonds — Bonds issued by corporations that on acquisition are rated BBB-/Baa3 or higher. These securities are generally priced by independent pricing services. The spreads are sourced from broker/dealers, trade prices and the new issue market. Where pricing is unavailable from pricing services, we obtain non-binding quotes from broker-dealers. As the significant inputs used to price corporate bonds are observable market inputs, the fair values of corporate bonds are included in the Level 2 fair value hierarchy.

Municipal bonds — Bonds issued by U.S. state and municipality entities or agencies. The fair values of municipal bonds are generally priced by independent pricing services. The pricing services typically use spreads obtained from broker-dealers, trade prices and the new issue market. As the significant inputs used to price the municipal bonds are observable market inputs, municipal bonds are classified within Level 2.

Other investments — Includes both quoted and unquoted investments. The fair value of our quoted equity investment is obtained from the Pricing Service and is classified within Level 1. Unquoted other investments comprise investments in limited partnerships and an investment in preference shares of a start-up insurance producer. The fair values of the limited partnerships are determined by the fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals, and as such, the fair values are included in the Level 3 fair value hierarchy. The fair value of the investment in preference shares of a start-up insurance producer was determined using recent private market transactions and as such, the fair value is included in the Level 3 fair value hierarchy.

Reinsurance balances receivable — The carrying values reported in the consolidated balance sheets for these financial instruments approximate their fair value due to short term nature of the assets.

Loan to related party — The carrying value reported in the consolidated balance sheets for this financial instrument approximates its fair value.

Senior notes — The amount reported in the consolidated balance sheets for these financial instruments represents the carrying value of the notes. The fair values are based on indicative market pricing obtained from a third-party service provider and as such, are included in the Level 2 hierarchy.

5. Fair Value Measurements (continued)

b) Fair Value Hierarchy

The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in ASC 820. The framework is based on the inputs used in valuation and gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the ASC 820 hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions.

At December 31, 2016 and 2015, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	5,413		$	—		$	—		$	5,413
U.S. agency bonds – mortgage-backed	—			1,716,038			—			1,716,038
U.S. agency bonds – other	—			18,102			—			18,102
Non-U.S. government and supranational bonds	—			29,934			—			29,934
Asset-backed securities	—			220,876			—			220,876
Corporate bonds	—			1,916,205			—			1,916,205
Municipal bonds	—			65,098			—			65,098
Other investments	6,586			—			6,474			13,060
Total	$	11,999		$	3,966,253		$	6,474		$	3,984,726
As a percentage of total assets	0.2		%	63.4		%	0.1		%	63.7		%



December 31, 2015	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	6,010		$	—		$	—		$	6,010
U.S. agency bonds – mortgage-backed	—			1,476,991			—			1,476,991
U.S. agency bonds – other	—			24,311			—			24,311
Non-U.S. government and supranational bonds	—			30,544			—			30,544
Asset-backed securities	—			165,804			—			165,804
Corporate bonds	—			1,739,668			—			1,739,668
Municipal bonds	—			64,760			—			64,760
Other investments	4,905			—			6,907			11,812
Total	$	10,915		$	3,502,078		$	6,907		$	3,519,900
As a percentage of total assets	0.2		%	61.4		%	0.1		%	61.7		%

The Company utilized a Pricing Service to estimate fair value measurements for approximately 98.8% and 99.9% of its fixed maturities at December 31, 2016 and 2015, respectively. The Pricing Service utilizes market quotations for fixed maturity securities that have quoted market prices in active markets. Since fixed maturities other than U.S. treasury bonds generally do not trade actively on a daily basis, the Pricing Service prepares estimates of fair value measurements using relevant market data, benchmark curves, sector groupings and matrix pricing and these have been classified as Level 2.

5. Fair Value Measurements (continued)

At December 31, 2016 and 2015, 1.2% and 0.1%, respectively, of the fixed maturities are valued using the market approach. At those dates, a total of three securities and two securities, respectively, or approximately $56,674 and $4,943, respectively, of Level 2 fixed maturities, were priced using a quotation from a broker and/or custodian as opposed to the Pricing Service due to lack of information available. At December 31, 2016, one of the three securities, which is an Agency MBS with a fair value of $51,510, is a new market issue that is subsequently priced by the Pricing Service in January 2017. At December 31, 2016 and 2015, we have not adjusted any pricing provided to us based on the review performed by our investment managers.

The Company utilized a Pricing Service to estimate fair value measurement for the quoted equity investment reflecting the closing price quoted for the final trading day of the period and is included in Level 1. For the unquoted other investments, the Company has $5,474 or 0.1% of its investment portfolio in limited partnerships where the fair value estimate is determined by the fund manager based on recent filings, operating results, balance sheet stability, growth, other business and market sector fundamentals and an investment of $1,000 in convertible preference shares of a start-up insurance producer, the fair value of which was determined using recent private market transactions. Due to the significant unobservable inputs in these valuations, the Company includes the estimate of the fair value of the unquoted investments as Level 3.

There have not been any transfers between Level 1 and Level 2 and there has not been any transfers to or from Level 3 during the periods represented by these Consolidated Financial Statements.

c) Level 3 Financial Instruments

The Company has determined that its investments in Level 3 securities are not material to its financial position or results of operations. The following table presents changes in Level 3 of our financial instruments measured at fair value on a recurring basis for the years ended December 31, 2016 and 2015:



	For the Year Ended December 31,
Other investments:	2016			2015
Balance at beginning of period	$	6,907		$	6,581
Total realized gains – included in net realized gains on investment	448			192
Total realized losses – included in net realized gains on investment	—			—
Change in total unrealized gains – included in other comprehensive income (loss)	78			373
Change in total unrealized losses – included in other comprehensive income (loss)	—			—
Purchases	172			217
Sales and redemptions	(1,131		)	(456		)
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Balance at end of period	$	6,474		$	6,907
Level 3 gains included in net income attributable to the change in unrealized gains relating to assets held at the reporting date	$	—		$	—

5. Fair Value Measurements (continued)

(d) Financial Instruments not measured at Fair Value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	December 31, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM – corporate bonds	$	752,212	$	766,135	$	607,843	$	598,975
Total financial assets	$	752,212	$	766,135	$	607,843	$	598,975

Financial Liabilities
MHLA – 6.625%	$	110,000	$	111,452	$	—	$	—
MHNC – 7.75%	152,500		164,700		152,500		165,456
MHNB – 8.00%	100,000		101,600		100,000		105,328
MHNA – 8.25%	—		—		107,500		110,424
Total financial liabilities	$	362,500	$	377,752	$	360,000	$	381,208

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The Company recognizes Goodwill and Intangible Assets in connection with certain acquisitions.

Goodwill is calculated as the excess of purchase price over the net fair value of assets acquired. The Company performs an annual impairment analysis to identify potential goodwill impairment and measures the amount of goodwill impairment loss to be recognized. This annual test is performed during the fourth quarter of each year or more frequently if events or circumstances change in a way that requires the Company to perform the impairment analysis on an interim basis. Goodwill impairment testing requires an evaluation of the estimated fair value of each reporting unit to its carrying value, including the goodwill. An impairment charge is recorded if the estimated fair value is less than the carrying amount of the reporting unit.

Intangible assets consist of finite and indefinite life assets. Finite life intangible assets include customer and producer relationships and trademarks. Insurance company licenses are considered indefinite life intangible assets subject to annual impairment testing.

On November 4, 2015, Maiden US finalized the sale of its wholly owned subsidiary, Maiden Specialty Insurance Company, to Clear Blue Financial Holdings, LLC ("Clear Blue"). The goodwill and intangible assets disposed of by way of this sale agreement were $1,120 and $3,200, respectively. During 2015, the Company acquired a majority interest in Regulatory Capital Limited, trading as Insurance Regulatory Capital ("IRC"), a licensed asset manager in Ireland. IRC offers solutions designed to meet the capital and risk management needs of mid-sized insurance companies. The Company recognized goodwill of $1,800 as a result of the acquisition.

The goodwill and intangible assets are assigned to our Diversified Reinsurance segment and are subject to annual impairment testing. During 2016, the Company has written off the goodwill relating to the acquisition of a majority interest in IRC which was deemed to be permanently impaired. The Company recognized an impairment loss of $1,800 as a result, which is presented in the consolidated statement of income as part of foreign exchange and other gains, net. No impairment was recorded during the years ended December 31, 2015 and 2014.

6. Goodwill and Intangible Assets (continued)

The following tables show the analysis of goodwill and intangible assets:



	Goodwill			Intangible Assets			Total
December 31, 2014	$	58,312		$	29,024		$	87,336
Acquired during the year	1,800			—			1,800
Disposed during the year	(1,120		)	(3,200		)	(4,320		)
Cumulative translation adjustment	(56		)	—			(56		)
Amortization	—			(2,840		)	(2,840		)
December 31, 2015	$	58,936		$	22,984		$	81,920
Cumulative translation adjustment	56			—			56
Amortization	—			(2,461		)	(2,461		)
Impairment losses	(1,800		)	—			(1,800		)
December 31, 2016	$	57,192		$	20,523		$	77,715



December 31, 2016	Gross		Accumulated Amortization			Accumulated Impairment			Net		Useful Life
Goodwill	$	58,992	$	—		$	(1,800	)	$	57,192	Indefinite
State licenses	4,527		—			—			4,527		Indefinite
Customer relationships	51,400		(35,404		)	—			15,996		15 years double declining
Net balance	$	114,919	$	(35,404	)	$	(1,800	)	$	77,715



December 31, 2015	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,936	$	—		$	58,936	Indefinite
State licenses	4,527		—			4,527		Indefinite
Customer relationships	51,400		(32,943		)	18,457		15 years double declining
Net balance	$	114,863	$	(32,943	)	$	81,920

The estimated amortization of intangible assets for the next five years is as follows:



2017	$	2,133
2018	1,848
2019	1,602
2020	1,388
2021	1,203

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Long-Term Debt

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Long-Term Debt

Senior Notes

Maiden Holdings and its wholly owned subsidiary, Maiden Holdings North America, Ltd. ("Maiden NA"), have completed public debt offerings on four separate occasions, with the issuance of Senior Notes in 2011, 2012, 2013 and 2016, respectively (the "Senior Notes"). Each of these issuances made by Maiden NA, namely the 2011, 2012 and 2013 Senior Notes, is fully and unconditionally guaranteed by the Company. The Senior Notes are unsecured and unsubordinated obligation of the Company.

On June 14, 2016, Maiden Holdings issued $110,000 6.625% 2016 Senior Notes for cash.

On June 15, 2016, we fully redeemed all of the 2011 Senior Notes using the proceeds from the 2016 Senior Notes issuance. The 2011 Senior Notes were redeemed at a redemption price equal to 100% of the principal amount of $107,500 plus accrued and unpaid interest on the principal amount being redeemed up to, but not including, the redemption date. As a result, the Company accelerated the amortization of the remaining debt issuance cost of $2,345.

The following table details the Company's Senior Notes issuances as of December 31, 2016 and 2015:



December 31, 2016	2016 Senior Notes			2013 Senior Notes			2012 Senior Notes			2011 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	100,000		$	—		$	362,500
Less: unamortized issuance costs	3,694			4,532			2,865			—			11,091
Carrying value	$	106,306		$	147,968		$	97,135		$	—		$	351,409

December 31, 2015	2016 Senior Notes			2013 Senior Notes			2012 Senior Notes			2011 Senior Notes			Total
Principal amount	$	—		$	152,500		$	100,000		107,500			$	360,000
Less: unamortized issuance costs	—			4,701			2,979			2,387			10,067
Carrying value	$	—		$	147,799		$	97,021		$	105,113		$	349,933


Other details:
Original debt issuance costs	$	3,715		$	5,054		$	3,406		$	2,811
Maturity date	June 14, 2046			Dec 1, 2043			Mar 27, 2042			June 15, 2041
Earliest redeemable date (for cash)	June 14, 2021			Dec 1, 2018			Mar 27, 2017			June 15, 2016
Coupon rate	6.625		%	7.75		%	8.00		%	8.25		%
Effective interest rate	7.07		%	8.04		%	8.31		%	8.47		%

The interest expense incurred on the Senior Notes for the year ended December 31, 2016 was $27,827 (2015 - $28,687, 2014 - $28,687), of which $1,453 and $1,523 was accrued at December 31, 2016 and 2015, respectively. The debt issuance costs related to the Senior Notes were capitalized and are being amortized over the life of the notes. The amount of amortization expense was $346 for the year ended December 31, 2016 (2015 - $376, 2014 - $375).

Reinsurance

12 Months Ended

Dec. 31, 2016

Reinsurance Disclosures [Abstract]

Reinsurance

We use retrocessional agreements ("ceded reinsurance") to mitigate volatility, to reduce our exposure on certain specialty reinsurance risks and to provide capital support. These agreements provide for recovery from reinsurers of a portion of loss and LAE under certain circumstances without relieving the Company of its obligations to the policyholders. The Company remains liable to the extent that any of our reinsurers fails to meet their obligations. Loss and LAE incurred and premiums earned are reported after deduction for reinsurance. In the event that one or more of our reinsurers are unable to meet their obligations under these reinsurance agreements, the Company would not realize the full value of the reinsurance recoverable balances.

Effective January 1, 2015, Maiden Bermuda entered into a retrocessional quota share agreement with a highly rated global insurer to cede certain lines of business from both of our reportable segments.

The effect of ceded reinsurance on net premiums written and earned and on net loss and LAE for the years ended December 31, 2016, 2015 and 2014 was as follows:



For the Year Ended December 31,	2016			2015			2014
Premiums written
Direct	$	8,045		$	9,160		$	48,565
Assumed	2,823,303			2,653,666			2,458,787
Ceded	(176,396		)	(148,710		)	(49,216		)
Net	$	2,654,952		$	2,514,116		$	2,458,136
Premiums earned
Direct	$	9,766		$	26,358		$	70,807
Assumed	2,698,879			2,481,515			2,253,750
Ceded	(140,495		)	(78,804		)	(72,814		)
Net	$	2,568,150		$	2,429,069		$	2,251,743
Loss and LAE
Gross loss and LAE	$	1,918,797		$	1,687,564		$	1,592,795
Loss and LAE ceded	(98,891		)	(53,994		)	(94,524		)
Net	$	1,819,906		$	1,633,570		$	1,498,271

The reinsurers with the three largest balances accounted for 54.8%, 31.6% and 2.9%, respectively, of the Company's reinsurance recoverable on unpaid losses balance at December 31, 2016 (2015 – 40.9%, 35.5% and 4.8%, respectively). At December 31, 2016, 97.2% (2015 - 99.1%) of the reinsurance recoverable on unpaid losses was due from reinsurers with credit ratings from A.M Best of A or better, and 2.8% (2015 - 0.9%) of the reinsurance recoverable on unpaid losses was due from reinsurers with ratings of B++ or lower. At December 31, 2016 and 2015, the Company had no valuation allowance against reinsurance recoverable on unpaid losses.

At December 31, 2016, 98.6% (December 31, 2015 - 69.4%) of reinsurance recoverable on unpaid losses, due from reinsurers with ratings of B++ or lower, were collateralized.

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References + Details

Reserve for Loss and Loss Adjustment Expenses

12 Months Ended

Dec. 31, 2016

Insurance [Abstract]

Reserve for Loss and Loss Adjustment Expenses

Our reserve for loss and LAE comprises:



December 31,	2016		2015
Reserve for reported loss and LAE	$	1,617,956	$	1,411,712
Reserve for losses incurred but not reported ("IBNR")	1,278,540		1,098,389
Reserve for loss and LAE	$	2,896,496	$	2,510,101

The following table represents a reconciliation of our beginning and ending gross and net loss and LAE reserves:



For the Year Ended December 31,	2016			2015			2014
Gross loss and LAE reserves, January 1	$	2,510,101		$	2,271,292		$	1,957,835
Less: reinsurance recoverable on unpaid losses, January 1	71,248			75,873			84,036
Net loss and LAE reserves, January 1	2,438,853			2,195,419			1,873,799
Net incurred losses related to:
Current year	1,600,454			1,558,704			1,479,425
Prior years	219,452			74,866			18,846
	1,819,906			1,633,570			1,498,271
Net paid losses related to:
Current year	(430,707		)	(457,517		)	(430,394		)
Prior years	(1,006,884		)	(892,840		)	(705,397		)
	(1,437,591		)	(1,350,357		)	(1,135,791		)
Effect of foreign exchange movements	(24,608		)	(39,779		)	(40,860		)
Net loss and LAE reserves, December 31	2,796,560			2,438,853			2,195,419
Reinsurance recoverable on unpaid losses, December 31	99,936			71,248			75,873
Gross loss and LAE reserves, December 31	$	2,896,496		$	2,510,101		$	2,271,292

Management believes that its use of both historical experience and industry-wide loss development factors provide a reasonable basis for estimating future losses. In the future, certain events may be beyond the control of management, such as changes in law, judicial interpretations of law, and inflation may favorably or unfavorably impact the ultimate settlement of the Company’s loss and LAE reserves.

The anticipated effect of inflation is implicitly considered when estimating liabilities for loss and LAE. While anticipated changes in claim costs due to inflation are considered in estimating the ultimate claim costs, changes in average severity of claims are caused by a number of factors that vary with the individual type of policy written. Ultimate losses are projected based on historical trends adjusted for implemented changes in underwriting standards, policy provisions, and general economic trends. Those anticipated trends are monitored based on actual development and are modified if necessary. Prior period development arises from changes to loss estimates recognized in the current year that relate to loss reserves in previous calendar years. The development reflects changes in management's best estimate of the ultimate losses under the relevant reinsurance policies after review of changes in actuarial assessments.

During 2016, the Company increased loss reserves for 2015 and prior years by $219,452 or 9.0% of prior year net loss and LAE reserves compared to $74,866 or 3.3% in 2015 and of $18,846 or 1.0% in 2014, respectively. The increase in prior year incurred losses was primarily due to the reserve charge implemented in the fourth quarter as well as new premium ceded during 2016 on prior underwriting year contracts. Due to loss sensitive features of certain contracts, favorable (or unfavorable) loss reserve development does not necessarily result in a commensurate amount of additional (or reduced) underwriting income as ceding commission may be adjusted proportionally to the amount of loss development, pursuant to the terms of the individual contracts. The Company recognized approximately $165,343 of adverse development, net of commission changes on adjustable contracts for the full year. This was largely due to significant fourth quarter adverse development in commercial auto liability in both the Diversified Reinsurance and AmTrust Reinsurance segments.

For the Diversified Reinsurance segment, adverse development was $96,788 (2015 - adverse development $49,856, 2014 - favorable development $14,959) for the full year, including the fourth quarter of 2016 reserve charge as well as adverse development experienced in prior quarters of 2016. For the AmTrust Reinsurance segment, adverse development was $54,000, (2015 - adverse development $9,100, 2014 - adverse development $13,900) largely related to program commercial auto as well as program general liability.

9. Reserve for Loss and Loss Adjustment Expenses (continued)


a)	Claims Development

The adoption of ASU 2015-09 Disclosures about Short-Duration Contracts did not change any of the methodologies or assumptions used in compiling data used in the Company's Consolidated Financial Statements or in estimating incurred losses.

Incurred loss and LAE reflects estimates of ultimate losses based on information received from cedants or obtained through reviews of industry trends, regarding claims incurred prior to the end of each financial year. A (redundancy) or deficiency arises when the re-estimation of reserves is (lower) or greater than its estimation at the preceding year-end. The cumulative (redundancies) or deficiencies reflect cumulative differences between the initial reported net reserves and the currently re-estimated net reserves. Annual changes in the estimates are reflected in the consolidated statement of income for each year as the liabilities are re-estimated.

IBNR reserves represent a provision for claims that have been incurred but not yet reported to the Company, as well as future loss development on losses already reported, in excess of the case reserves. The Company updates its estimates for each of the aforementioned categories on a quarterly basis using information received from its cedants. IBNR estimates will be negative where our history indicates favorable future emergence is the best estimate. For all lines, the Company’s objective is to estimate ultimate loss and LAE. As a result, the reserve for loss and LAE include significant estimates for IBNR reserves. Please refer to "Note 2. Significant Accounting Policies" for the accounting policy and methodology for determining loss reserves. As a reinsurer of primarily quota share contracts, claim counts are frequently unavailable and as a result they are not a methodology applied in our loss reserving process and therefore claim counts have not been provided in the table below as it is impractical to do so.

The following is a summary of the Company's incurred losses and paid losses development by accident year, net of reinsurance, from the last six calendar years including the total reserve for losses IBNR plus development on reported loss and LAE for both our reportable segments, Diversified Reinsurance and AmTrust Reinsurance, as of December 31, 2016. Information prior to 2016 is included as unaudited supplementary information. As a reinsurer we are reliant on our cedants to provide us with this detailed information. Six years of information has been presented only as it was impractical to obtain the sufficiently detailed additional information on those earlier years. The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2016 spot rate for all years presented in the table below in order to isolate changes in foreign exchange rates from loss development. Information regarding our Other category has not been presented in the development tables below but is included in the reconciliation, as these losses include amounts from our former NGHC Quota Share segment and the remnants of the U.S. excess and surplus business, which are in run-off.

There are a number of factors to consider when considering the information in these tables:


•	For both segments, the premium and exposure for prior years is often reported to us in subsequent periods, as reporting lags exist from an insurer to a reinsurer. This leads to increases in the provision for loss and LAE in prior years, but does not reduce expected income (and in many cases can result in additional income);


•	In the Diversified Reinsurance segment, our U.S. operations have adjustable commission features on a significant portion of its business which is not reflected in this loss disclosure;

•

In the AmTrust Reinsurance segment, the European Hospital Liability Quota Share exposure results in many instances where claims are eventually closed with no liability. As a claims made exposure, there is also minimal to no "tail" that would result in IBNR. The net result is a significant amount of negative IBNR accounting for claims with case reserves established that are expected to be closed with no payment; and


•	In the AmTrust Reinsurance segment, these numbers are affected by the commutation with AmTrust at year end 2015 which resulted in a $107,000 payment and the reduction of loss and unearned premium reserves.

9. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents information on the Company's incurred losses and LAE and cumulative paid losses and LAE, both net of reinsurance, since 2011 for our Diversified Reinsurance segment. The development tables below included reserves acquired from the loss portfolio transfer agreement associated with the GMAC RE business as at October 31, 2008 of $755,554 and reserves acquired from the loss portfolio transfer agreement associated with the GMAC International Insurance Services business as at November 30, 2010 of $98,827. For the purposes of the disclosure, the reserves from each of the loss portfolio transfers were allocated to the original accident year. Prior period information is unaudited and is presented as required supplementary information.



Diversified Reinsurance	Incurred losses and LAE, net of reinsurance												At December 31, 2016
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		Total IBNR
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007 and prior	$	570,859	$	563,762	$	552,718	$	546,160	$	552,342	$	556,561	$	7,626
2008	207,118		188,325		180,972		179,100		180,624		180,957		17,681
2009	376,766		370,940		362,134		366,680		367,492		367,738		15,767
2010	519,644		517,885		559,628		591,836		583,788		590,871		13,207
2011	475,042		500,027		480,265		497,245		499,809		503,011		16,595
2012			549,587		527,380		547,331		551,957		561,003		21,098
2013					531,167		454,637		516,728		537,057		38,675
2014							583,353		565,198		596,039		79,168
2015									493,518		513,791		112,954
2016											481,086		217,631
Total											$	4,888,114	$	540,402

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007 and prior	349,690		394,639		432,821		452,716		470,930		476,064
2008	111,589		126,265		135,439		140,884		147,568		157,420
2009	225,940		252,388		264,246		274,120		283,705		292,088
2010	336,181		422,063		479,840		511,819		536,759		551,702
2011	168,075		326,995		387,380		427,817		445,476		459,451
2012			201,871		351,247		420,709		453,673		483,631
2013					192,601		334,452		408,651		453,911
2014							197,964		377,434		457,165
2015									180,698		331,595
2016											175,451
Total											3,838,478
Total net reserves											$	1,049,636

9. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents information on the Company's incurred losses and LAE and cumulative paid losses and LAE, both net of reinsurance, since 2011 for our AmTrust Reinsurance segment. Prior period information is unaudited and is presented as required supplementary information.



AmTrust Reinsurance			Incurred losses and LAE, net of reinsurance										At December 31, 2016
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		Total IBNR
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007	$	67,836	$	67,204	$	67,048	$	70,531	$	71,857	$	72,947	$	18
2008	225,656		224,460		224,667		238,357		242,624		246,009		1,445
2009	226,650		238,131		248,792		249,583		252,686		257,829		1,981
2010	279,228		285,118		295,502		302,721		309,161		329,971		3,176
2011	342,577		352,187		367,915		390,325		401,861		406,203		(3,564		)
2012			473,294		450,770		480,984		482,833		497,132		(30,776		)
2013					648,071		576,404		576,524		611,617		(10,187		)
2014							854,667		838,549		844,465		53,727
2015									1,033,505		1,031,258		141,662
2016											1,117,722		518,454
Total											$	5,415,153	$	675,936

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007	$	64,128	$	65,545	$	67,639	$	70,246	$	70,109	$	71,414
2008	194,344		210,319		219,088		231,095		231,399		234,499
2009	192,446		220,376		232,478		232,364		236,632		242,516
2010	194,566		227,598		252,841		288,261		296,332		312,743
2011	161,926		235,792		278,150		328,710		363,457		373,974
2012			150,495		235,473		354,717		409,910		453,428
2013					213,499		323,134		432,396		504,964
2014							213,565		479,119		610,327
2015									284,147		630,914
2016											255,579
Total											3,690,358
Total net reserves											$	1,724,795

9. Reserve for Loss and Loss Adjustment Expenses (continued)

The following table represents a reconciliation of the net incurred and paid claims development tables to the reserve for loss and LAE in the Consolidated Balance Sheet:



	As at December 31, 2016
	Total Net Reserves		Reinsurance Recoverables on unpaid claims		Total Gross Reserves

Diversified Reinsurance	$	1,049,636	$	54,299	$	1,103,935
AmTrust Reinsurance	1,724,795		32,933		1,757,728
Other	22,129		12,704		34,833
Total claims reserves	$	2,796,560	$	99,936	$	2,896,496


b)	Claims duration disclosure

The following unaudited supplementary information represents the average annual percentage payout of net loss and LAE by age, net of reinsurance, for both our reportable segments as of December 31, 2016:



	Average annual payout of incurred claims by age, net of reinsurance
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6
Diversified Reinsurance	35.9	%	30.9	%	9.7	%	5.6	%	2.5	%	2.8	%
AmTrust Reinsurance	28.4	%	28.0	%	14.7	%	10.3	%	7.7	%	1.4	%

The average annual payout of incurred claims by age, net of reinsurance, is calculated using the amount of claims paid in each development year and is compared with the estimated incurred claims as of the most recent period presented.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Founding Shareholders of the Company are Michael Karfunkel, George Karfunkel and Barry Zyskind. Michael Karfunkel passed away on April 27, 2016. Based on each individual's most recent public filing as of December 31, 2016, Leah Karfunkel (wife of Michael Karfunkel) owns or controls approximately 7.9% of the outstanding shares of the Company, Barry Zyskind (the Company's non-executive chairman) owns or controls approximately 7.5% of the outstanding shares of the Company and George Karfunkel owns or controls 2.0% of the outstanding shares of the Company. Leah Karfunkel and George Karfunkel are directors of AmTrust, and Barry Zyskind is the president, CEO and chairman of AmTrust. Leah Karfunkel, George Karfunkel and Barry Zyskind own or control approximately 49.3% of the outstanding shares of AmTrust. AmTrust owns 11.6% of the issued and outstanding shares of National General Holdings Corporation ("NGHC") common stock, and the Michael Karfunkel 2005 Family Trust (which is controlled by Leah Karfunkel) owns 43.0% of the outstanding common shares of NGHC. Barry Zyskind is the non-executive chairman of NGHC. AmTrust The following describes transactions between the Company and AmTrust: AmTrust Quota Share Reinsurance Agreement Effective July 1, 2007, the Company and AmTrust entered into a master agreement, as amended (the "Master Agreement"), by which they caused Maiden Bermuda, a wholly owned subsidiary of the Company, and AmTrust's Bermuda reinsurance subsidiary, AmTrust International Insurance, Ltd. ("AII"), to enter into a quota share reinsurance agreement (the "Reinsurance Agreement") by which AII retrocedes to Maiden Bermuda an amount equal to 40% of the premium written by subsidiaries of AmTrust, net of the cost of unaffiliated inuring reinsurance and 40% of losses. The Master Agreement further provided that AII receives a ceding commission of 31% of ceded written premiums. On June 11, 2008, Maiden Bermuda and AII amended the Reinsurance Agreement to add Retail Commercial Package Business to the Covered Business. AII receives a ceding commission of 34.375% on Retail Commercial Package Business. On July 1, 2016 the agreement was renewed through June 30, 2019. The agreement automatically renews for successive three-year periods thereafter unless AII or Maiden Bermuda elects to so terminate the Reinsurance Agreement by giving written notice to the other party not less than nine months prior to the expiration of any successive three-year period. Either party is entitled to terminate on thirty days' notice or less upon the occurrence of certain early termination events, which include a default in payment, insolvency, change in control of AII or Maiden Bermuda, run-off, or a reduction of 50% or more of the shareholders' equity of Maiden Bermuda or the combined shareholders' equity of AII and the AmTrust subsidiaries. In 2015, Maiden Bermuda and AII entered into an agreement to commute certain liabilities as of December 31, 2015. The commuted reserve value of $107,000, represents full and final settlement of all liabilities related to this business and as a result of this agreement, this business is no longer being ceded to Maiden Bermuda. Additionally, for the Specialty Program portion of Covered Business only, AII will be responsible for ultimate net loss otherwise recoverable from Maiden Bermuda to the extent that the loss ratio to Maiden Bermuda, which shall be determined on an inception to date basis from July 1, 2007 through the date of calculation, is between 81.5% and 95%. Above and below the defined corridor, Maiden Bermuda will continue to reinsure losses at its proportional 40% share per the Reinsurance Agreement. AmTrust European Hospital Liability Quota Share Agreement ("European Hospital Liability Quota Share") Effective April 1, 2011, Maiden Bermuda, entered into a quota share reinsurance contract with AmTrust Europe Limited ("AEL") and AmTrust International Underwriters Limited ("AIUL"), both wholly owned subsidiaries of AmTrust. Pursuant to the terms of the contract, Maiden Bermuda assumed 40% of the premiums and losses related to policies classified as European Hospital Liability, including associated liability coverages and policies covering physician defense costs, written or renewed on or after April 1, 2011. The contract also covers policies written or renewed on or before March 31, 2011, but only with respect to losses that occur, accrue or arise on or after April 1, 2011. The maximum limit of liability attaching shall be €5,000 (€10,000 effective January 1, 2012) or currency equivalent (on a 100% basis) per original claim for any one original policy. Maiden Bermuda will pay a ceding commission of 5%. The agreement has been renewed through March 31, 2018 and can be terminated at any April 1 by either party on four months notice. Effective July 1, 2016, the contract was amended such that Maiden Bermuda assumes from AEL 32.5% of the premiums and losses of all policies written or renewed on or after July 1, 2016 until June 30, 2017 and 20% of all policies written or renewed on or after July 1, 2017. For the year ended December 31, 2016, the Company recorded approximately $590,737 (2015 - $518,196, 2014 - $401,679) of commission expense as a result of both of these quota share arrangements with AmTrust. 10. Related Party Transactions (continued) Other Reinsurance Agreements Effective September 1, 2010, the Company, through a subsidiary, entered into a quota share reinsurance agreement with Technology Insurance Company, Inc. ("Technology"), a subsidiary of AmTrust. Under the agreement, we ceded (a) 90% of its gross liability written under the Open Lending Program ("OPL") and (b) 100% of its surplus lines general liability business under the Naxos Avondale Specialty Casualty Program ("NAXS"). Our involvement is limited to certain states where Technology was not fully licensed. The agreement also provides that we receive a ceding commission of 5% of ceded written premiums. The OPL program was terminated on December 31, 2011, on a run-off basis, and the NAXS program was terminated on October 31, 2012. We recorded $19 of ceded premiums and $1 ceding commission income for the year ended December 31, 2016 (2015 - $68 and $3, respectively, 2014 - $171 and $8, respectively). Effective April 1, 2012, the Company, through a subsidiary, entered into a reinsurance agreement with AmTrust's wholly owned subsidiary, AmTrust North America, Inc. ("AmTrust NA"). We indemnify AmTrust NA, on an excess of loss basis, as a result of losses occurring on AmTrust NA's new and renewal policies relating to the lines of business classified as Automobile Liability by AmTrust NA in its annual statement utilizing the specific underwriting guidelines defined in the reinsurance agreement. AmTrust NA shall retain the first $1,000 of loss, per any one policy or per any one loss occurrence. This agreement has a term of one year and automatically renews annually unless terminated pursuant to the terms of the agreement. Under this agreement, we recorded approximately $1,139 of net premiums earned and $295 of commission expense for the year ended December 31, 2016 ($673 and $1,241 net premiums earned and $166 and $262 commission expense for the years ended December 31, 2015 and 2014, respectively). Collateral provided to AmTrust a) AmTrust Quota Share Reinsurance Agreement In order to provide AmTrust's U.S. insurance subsidiaries with credit for reinsurance on their statutory financial statements, AII, as the direct reinsurer of the AmTrust's insurance subsidiaries, has established trust accounts ("Trust Accounts") for their benefit. Maiden Bermuda has agreed to provide appropriate collateral to secure its proportional share under the Reinsurance Agreement of AII's obligations to the AmTrust subsidiaries to whom AII is required to provide collateral. This collateral may be in the form of (a) assets loaned by Maiden Bermuda to AII for deposit into the Trust Accounts, pursuant to a loan agreement between those parties, (b) assets transferred by Maiden Bermuda for deposit into the Trust Accounts, (c) a letter of credit obtained by Maiden Bermuda and delivered to an AmTrust subsidiary on AII's behalf, or (d) premiums withheld by an AmTrust subsidiary at Maiden Bermuda's request in lieu of remitting such premiums to AII. Maiden Bermuda may provide any or a combination of these forms of collateral, provided that the aggregate value thereof equals Maiden Bermuda's proportionate share of its obligations under the Reinsurance Agreement with AII. Maiden Bermuda satisfied its collateral requirements under the Reinsurance Agreement with AII as follows: •by lending funds in the amount of $167,975 at December 31, 2016 and 2015 pursuant to a loan agreement entered into between those parties. This loan was assigned by AII to AmTrust effective December 31, 2014 and is carried at cost. Interest is payable at a rate equivalent to the one-month LIBOR plus 90 basis points per annum; and •effective December 1, 2008, the Company entered into a Reinsurer Trust Assets Collateral agreement to provide to AII sufficient collateral to secure its proportional share of AII's obligations to the U.S. AmTrust subsidiaries. The amount of the collateral, at December 31, 2016 was approximately $2,766,032 (2015 - $2,256,383) and the accrued interest was $20,420 (2015 - $15,448). Please refer to "Note 4. (e) Investments" for additional information. b) European Hospital Liability Quota Share AEL requested that Maiden Bermuda provide collateral to secure its proportional share under the European Hospital Liability Quota Share agreement. Please refer to "Note 4. (e) Investments" for additional information. Brokerage Agreement Effective July 1, 2007, the Company entered into a reinsurance brokerage agreement with AII Reinsurance Broker Ltd. ("AIIB"), a wholly owned subsidiary of AmTrust. Pursuant to the brokerage agreement, AIIB provides brokerage services relating to the Reinsurance Agreement and the European Hospital Liability Quota Share agreement for a fee equal to 1.25% of the premium assumed. The brokerage fee is payable in consideration of AIIB's brokerage services. AIIB is not the Company's exclusive broker. The agreement may be terminated upon 30 days written notice by either party. Maiden Bermuda recorded approximately $24,146, $21,475 and $17,229 of reinsurance brokerage expense for the years ended December 31, 2016, 2015 and 2014, respectively, and deferred reinsurance brokerage of $14,395 and $13,464 at December 31, 2016 and 2015, respectively, as a result of this agreement. 10. Related Party Transactions (continued) Asset Management Agreement Effective July 1, 2007, the Company entered into an asset management agreement with AII Insurance Management Limited ("AIIM"), a wholly owned subsidiary of AmTrust, pursuant to which AIIM has agreed to provide investment management services to the Company. AIIM provides investment management services for a quarterly fee of 0.0375% if the average value of the account for the previous calendar quarter is greater than $1 billion. The agreement may be terminated upon 30 days written notice by either party. The Company recorded approximately $6,925, $6,057 and $5,214 of investment management fees for the years ended December 31, 2016, 2015 and 2014, respectively, as a result of this agreement. Other The Company entered into time sharing agreements for the lease of aircraft owned by AmTrust Underwriters, Inc. ("AUI"), a wholly owned subsidiary of AmTrust, and by AmTrust on March 1, 2011 and November 5, 2014, respectively. The agreements automatically renew for successive one-year terms unless terminated in accordance with the provisions of the agreements. Pursuant to the agreements, the Company will reimburse AUI and AmTrust for actual expenses incurred as allowed by Federal Aviation Regulations. For the year ended December 31, 2016, the Company recorded an expense of $61 (2015- $89, 2014 - $88) for the use of the aircraft. NGHC The following describes transactions between the Company and NGHC and its subsidiaries: NGHC Quota Share Reinsurance Agreement ("NGHC Quota Share") Maiden Bermuda, effective March 1, 2010, had a 50% participation in the NGHC Quota Share, by which it received 25% of net premiums of the personal lines automobile business and assumed 25% of the related net losses. On August 1, 2013, the Company received notice from NGHC of the termination of the NGHC Quota Share effective on that date. The Company and NGHC mutually agreed that the termination is on a run-off basis, which means that Maiden Bermuda continued to earn premiums and remain liable for losses occurring subsequent to August 1, 2013 for any policies in force prior to and as of August 1, 2013 until those policies expire. Consequently, Maiden Bermuda recorded no ceding commission expense for the year ended December 31, 2016 (2015 - $nil, 2014 - $6,509) as a result of this transaction. Other Effective April 1, 2015, Maiden US renewed the Medical Excess of Loss reinsurance agreement with wholly owned subsidiaries of NGHC, Distributors Insurance Company PCC, AIBD Insurance Company IC and Professional Services Captive Corporation IC. Pursuant to this agreement, Maiden US indemnifies on an excess of loss basis, for the amounts of net loss, paid from April 1, 2015 through March 31, 2016. Maiden US was liable for 100% of the net loss for each covered person per agreement year in excess of the $1,175 retention (each covered person per agreement year). Maiden US' liability did not exceed $8,825 per covered person per agreement year. In addition, Maiden US continued to indemnify extra contractual obligations with a maximum liability of $2,000. This agreement terminated on March 31, 2016 and Maiden US was relieved of all liability hereunder for losses incurred or paid subsequent to such termination date. Under these agreements, Maiden US recorded approximately $157 of premiums earned for the year ended December 31, 2016 (2015 - $443, 2014 - $190). Effective May 1, 2015, Maiden US entered into an agreement with several NGHC subsidiaries for medical excess of loss programs. This program covers employer aggregate and traditional specific medical stop loss policies underwritten by the Managing General Agent that they support. The NGHC companies covered under the treaty are Integon Indemnity Insurance Company, Integon National Insurance Company and National Health Insurance Company. This agreement was renewed for another year and now terminates on April 30, 2017 with either party having the right to cancel by giving 60 days notice to the other party in the event that other party fails to maintain certain financial and other criteria. Upon expiration of this agreement, coverage remains in full force and effect on all assumed liability for policies in force on the date of expiration until expiration, cancellation or next anniversary date of such subject policies. The treaty limit of the aggregate medical stop loss is subject to a limit of $4,000 in excess of $1,000 any one insured person. The treaty limit on the traditional specific medical stop loss Layer 1 is subject to a limit of $1,000 in excess of $1,000 any one insured person; Layer 2 is subject to a limit of $3,000 in excess of $2,000 any one insured person and Layer 3 is subject to a limit of $5,000 in excess of $5,000. In addition to these limits, the Company shall cover extra contractual obligations arising under this agreement with a maximum liability of $2,000. Under these agreements, Maiden US recorded approximately $442 of premiums earned for the year ended December 31, 2016 (2015 - $25).

Commitments, Contingencies and Concentrations

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Concentrations

a) Concentrations of Credit Risk

At December 31, 2016 and 2015, the Company’s assets where significant concentrations of credit risk may exist include investments, cash and cash equivalents, loan to related party and reinsurance balances receivable.

The Company manages concentration of credit risk in the investment portfolio through issuer and sector exposure limitations. The Company believes it bears minimal credit risk in its cash on deposit. The Company also monitors the credit risk related to the loan to related party and its reinsurance balances receivable, within which the largest balance is due from AmTrust. To mitigate credit risk, we generally have a contractual right of offset thereby allowing us to settle claims net of any premiums or loan receivable. The Company believes these balances will be fully collectible.

b) Concentrations of Revenue

During 2016, our gross premiums written from AmTrust accounted for $2,006,646 or 70.9% of our total gross premiums written (2015 – $1,885,974 or 70.8% and 2014 – $1,610,485 or 64.2%).

c) Brokers

We market our Diversified Reinsurance segment through a combination of third-party intermediaries and directly through our own marketing efforts. For the year ended December 31, 2016, 53.9% (2015 - 54.6%, 2014 - 57.1%) of our Diversified Reinsurance segment's gross premiums written was sourced through brokers. Our top three brokers represented approximately 34.6% of gross premiums written by our Diversified Reinsurance segment for the year ended December 31, 2016 (2015 - 36.9%, 2014 - 31.6%) and is comprised of Aon Benfield Inc. - 13.8% (2015 - 17.3%, 2014 - 15.8%), Marsh & McLennan Companies (including Guy Carpenter) - 11.9% (2015 - 12.2%, 2014 - 12.0%), and Beach & Associates - 8.9% (U.S. RE Corporation - 2015 - 7.4%, Tiger Risk Partners - 2014 - 3.8%).

d) Letters of Credit

At December 31, 2016 and 2015, we had letters of credit outstanding of $76,656 and $76,964, respectively. The letters of credit are for collateral purposes and are secured by cash and fixed maturities with a fair value of $108,786 (2015 - $108,666).

e) Employment agreements

The Company has entered into employment agreements with certain individuals. The employment agreements provide for option awards, executive benefits and severance payments under certain circumstances.

f) Operating Lease Commitments

The Company leases office space, an apartment, equipment and vehicles under operating leases expiring in various years through 2021. The Company's office space lease in Hamilton, Bermuda expires on November 30, 2017, and we have an option to renew for another five years. The Company's total rent expense for the years ended December 31, 2016, 2015 and 2014 was $1,616, $1,984 and $2,220, respectively. Future minimum lease payments at December 31, 2016 under non-cancellable operating leases for the next five years are approximately as follows:



	December 31, 2016
2017	$	1,366
2018	597
2019	495
2020	337
2021	—
	$	2,795

g) Unfunded Commitments

The Company has an unfunded commitment on its investment in limited partnerships of approximately $463 at December 31, 2016 (2015 - $622).

11. Commitments and Contingencies (continued)

h) Other Collateral

In the ordinary course of business, the Company enters into reinsurance agreements that may include terms which could require the Company to collateralize certain of its obligations.

i) Deposit Insurance

The Company maintains cash and cash equivalents balances at financial institutions in the U.S., Bermuda and other international jurisdictions. In the U.S., the Federal Deposit Insurance Corporation secures accounts up to $250. In certain other international jurisdictions, there exist similar protections. Management monitors balances in excess of insured limits and believes they do not represent a significant credit risk to the Company.

j) Legal Proceedings

Except as noted below, the Company is not a party to any material legal proceedings. From time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of insurance or reinsurance operations. Based on the Company's opinion, the eventual outcome of these legal proceedings is not expected to have a material adverse effect on its financial condition or results of operations.

In April 2009, the Company learned that Bentzion S. Turin, the former Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, sent a letter to the U.S. Department of Labor claiming that his employment with the Company was terminated in retaliation for corporate whistle blowing in violation of the whistle blower protection provisions of the Sarbanes-Oxley Act of 2002. Mr. Turin alleged that he was terminated for raising concerns regarding corporate governance with respect to the negotiation of the terms of the Trust Preferred Securities Offering. He seeks reinstatement as Chief Operating Officer, General Counsel and Secretary of Maiden Holdings and Maiden Bermuda, back pay and legal fees incurred. On December 31, 2009, the U.S. Secretary of Labor found no reasonable cause for Mr. Turin’s claim and dismissed the complaint in its entirety. Mr. Turin objected to the Secretary's findings and requested a hearing before an administrative law judge in the U.S. Department of Labor. The Company moved to dismiss Mr. Turin's complaint, and its motion was granted by the Administrative Law Judge on June 30, 2011.

On July 13, 2011, Mr. Turin filed a petition for review of the Administrative Law Judge's decision with the Administrative Review Board in the U.S. Department of Labor. On March 29, 2013, the Administrative Review Board reversed the dismissal of the complaint on procedural grounds, and remanded the case to the administrative law judge. The administrative hearing began in September 2014. Eleven hearing days have taken place, and we expect the hearings to conclude in late 2017 or early 2018. The Company believes that it had good and sufficient reasons for terminating Mr. Turin's employment and, that the claim is without merit. The Company will continue to vigorously defend itself against this claim.

k) Dividends declared

On November 1, 2016, the Company's Board of Directors authorized the following quarterly dividend:

Earnings per Common Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings per Common Share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Year Ended December 31,	2016			2015			2014
Numerator:
Net income attributable to Maiden	$	48,980		$	124,476		$	101,391
Dividends on preference shares – Series A	(12,375		)	(12,375		)	(12,375		)
Dividends on convertible preference shares – Series B	(8,971		)	(11,962		)	(11,962		)
Dividends on preferences shares – Series C	(12,410		)	—			—
Amount allocated to participating common shareholders⁽¹⁾	(7		)	(52		)	(94		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	15,217			100,087			76,960
Potentially dilutive securities:
Dividends on convertible preference shares – Series B⁽²⁾	—			11,962			—
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	15,217		$	112,049		$	76,960
Denominator:
Weighted average number of common shares – basic	77,534,860			73,478,544			72,843,782
Potentially dilutive securities:
Share options and restricted share units	1,152,083			1,319,074			1,273,786
Convertible preference shares⁽²⁾	—			10,840,617			—
Adjusted weighted average number of common shares and assumed conversions – diluted	78,686,943			85,638,235			74,117,568
Basic earnings per share attributable to Maiden common shareholders:	$	0.20		$	1.36		$	1.06
Diluted earnings per share attributable to Maiden common shareholders:	$	0.19		$	1.31		$	1.04


(1)	This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

(2)

The effect of mandatory convertible preference shares were excluded in the calculation of diluted EPS for the years ended December 31, 2014 and 2016 (for the period that the convertible shares were outstanding) as they were anti-dilutive. On September 15, 2016, the Company's $165,000 mandatory convertible preference shares - Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of 3.6573 per preference share. Please refer to "Note 13. Shareholders' Equity" and "Note 14. Share Compensation and Pension Plans" of the Notes to Consolidated Financial Statements, for the terms and conditions of each of these anti-dilutive instruments.

At December 31, 2016, 24,000 share options (2015 – nil; 2014 – 17,293) were excluded from diluted earnings per common share because they were anti-dilutive.

Shareholders' Equity

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

At December 31, 2016, the aggregate authorized share capital of the Company is 150,000,000 shares from which the Company has issued 87,321,012 common shares, of which 86,271,109 common shares are outstanding, and issued 12,600,000 preference shares. The remaining 50,078,988 are undesignated at December 31, 2016.

a) Common Shares

The following table shows the summary of changes in the Company's common shares outstanding:



For the Year Ended December 31,	2016		2015		2014
Outstanding shares – January 1	73,721,140		72,932,702		72,633,561
Mandatory conversion of preference shares – Series B	12,069,090		—		—
Issuance of vested restricted shares and restricted share units	251,027		378,120		184,396
Shares repurchased⁽¹⁾	(35,258	)	(46,458	)	(5,851	)
Exercise of options	265,110		456,776		120,596
Outstanding shares – December 31	86,271,109		73,721,140		72,932,702


(1)	Shares repurchased were withholdings from employees in respect of tax obligations arising from the vesting of restricted shares and performance based shares. See further details below in item (e).

The Company's common shares have a par value of $0.01 per share. The holders of our common shares are entitled to receive dividends and are allocated one vote per common share, subject to downward adjustment under certain circumstances.

On July 24, 2014, the Board of Directors has approved the repurchase of up to $75,000 of the Company's common shares from time to time at market prices. No share repurchases have taken place to date under this plan.

b) Preference Shares – Series C

On November 25, 2015, the Company issued a total of 6,600,000 7.125% Preference Shares – Series C (the "Preference Shares - Series C"), par value $0.01 per share, at a price of $25 per preference share. The Company received net proceeds of $159,485 from the offering, after deducting issuance costs of $5,515, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series C have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after December 15, 2020 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The authorized number of the Preference Shares – Series C is 6,600,000.

Dividends on the Preference Shares – Series C are non-cumulative. Consequently, in the event a dividend is not declared on the Preference Shares – Series C for any dividend period, holders of Preference Shares – Series C will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and will not be payable. The holders of Preference Shares – Series C will be entitled to receive dividend payments only when, as and if declared by the Company's board of directors or a duly authorized committee of the board of directors. Any such dividends will be payable from, and including, the date of original issue on a non-cumulative basis, quarterly in arrears.

To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 7.125% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares – Series C remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares – Series C have been declared and paid, no dividend shall be paid or declared on the common shares.

The holders of the Preference Shares – Series C have no voting rights other than the right to elect up to two directors if preference share dividends are not declared and paid for six or more dividend periods. For the year ended December 31, 2016, the Company declared and paid dividends on the Preference Shares – Series C of $12,410 (2015 - $nil).

13. Shareholders’ Equity (continued)

c) Mandatory Convertible Preference Shares – Series B

In October 2013, the Company issued a total of 3,300,000 7.25% Mandatory Convertible Preference Shares – Series B (the "Preference Shares – Series B"), par value $0.01, at a price of $50 per preference share. The Company received net proceeds of $159,675 from the offering after deducting issuance costs of $5,325, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series B were not redeemable. The authorized number of the Preference Shares – Series B was 3,300,000.

The Company paid cumulative dividends on each of the Preference Shares – Series B at a rate of 7.25% per annum on the initial liquidation preference of $50 per share (equivalent to $3.625 per annum per Preference Share – Series B or $0.90625 per quarter except on the initial payment date which was $0.745139). Dividends accrued and accumulated from the date of issuance and, to the extent that the Company had lawfully available funds to pay dividends and the board of directors declared a dividend payable, it paid dividends quarterly each year commencing on December 15, 2013, up to, and including, September 15, 2016 in cash.

On September 15, 2016, each of the outstanding Preference Share – Series B were automatically converted into 12,069,090 of the Company's common shares at a conversion rate of 3.6573 per preference share based on the volume weighted average price per share of the Company’s common shares over the forty consecutive trading day period beginning on, and including, the forty-second scheduled trading day immediately preceding September 15, 2016 (the "final averaging period"). The mandatory conversion date is the third business day immediately following the last trading day of the final averaging period. For the years ended December 31, 2016, 2015 and 2014 the Company declared and paid dividends on the Preference Shares – Series B of $8,971, $11,962 and $11,962, respectively.

d) Preference Shares - Series A

On August 22, 2012, the Company issued 6,000,000 8.25% Preference Shares – Series A (the "Preference Shares – Series A"), par value $0.01 per share, at a price of $25 per preference share. The Company received net proceeds of $145,041 from its offering, after deducting issuance costs of $4,959, which were recognized as a reduction in additional paid-in capital. The Preference Shares – Series A have no stated maturity date and are redeemable in whole or in part at the sole option of the Company any time after August 29, 2017 at a redemption price of $25 per preference share plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The authorized number of the Preference Shares – Series A is 6,000,000.

Dividends on the Preference Shares – Series A are non-cumulative. Consequently, in the event a dividend is not declared on the Preference Shares – Series A for any dividend period, holders of Preference Shares – Series A will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and will not be payable. The holders of Preference Shares – Series A will be entitled to receive dividend payments only when, as and if declared by the Company's board of directors or a duly authorized committee of the board of directors. Any such dividends will be payable from, and including, the date of original issue on a non-cumulative basis, quarterly in arrears.

To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 8.25% of the $25 liquidation preference per annum. During any dividend period, so long as any Preference Shares – Series A remain outstanding, unless the full dividends for the latest completed dividend period on all outstanding Preference Shares – Series A have been declared and paid, no dividend shall be paid or declared on the common shares.

The holders of the Preference Shares – Series A have no voting rights other than the right to elect up to two directors if preference share dividends are not declared and paid for six or more dividend periods. For each of the years ended December 31, 2016, 2015 and 2014, the Company declared and paid dividends on the Preference Shares - Series A of $12,375.

e) Treasury Shares

On February 19, 2014, the Company repurchased 5,851 shares from employees, at a price per share of $11.18, which represents withholdings from employees in respect of tax obligations on the vesting of restricted shares.

On January 1, 2015, February 19, 2015 and March 5, 2015, the Company repurchased 4,954 shares at a price per share of $12.79, 7,658 shares at a price per share of $14.40 and 33,846 shares at a price per share of $14.21, respectively, from employees, which represent withholdings from employees surrendered in respect of tax obligations on the vesting of restricted shares and performance based shares.

On January 1, 2016, February 15, 2016, February 17, 2016 and March 10, 2016, the Company repurchased 3,351 shares at a price per share of $14.91, 10,255 shares at a price per share of $13.16, 1,183 shares at a price per share of $13.36 and 20,469 shares at a price of $13.16, respectively, from employees, which represent withholdings in respect of tax obligations on the vesting of restricted shares and performance based shares.

13. Shareholders’ Equity (continued)

f) Accumulated Other Comprehensive Income

The following table presents details about amounts reclassified from AOCI:



Details about AOCI Components	Consolidated Statements of Income Line Item that Includes Reclassification	For the Year Ended December 31,
Unrealized (losses) gains on AFS securities		2016			2015		2014
	Net realized (losses) gains on investment	$	(576	)	$	263	$	(3,160	)
	Net impairment losses recognized in earnings	—			—		(102		)
	Total before tax	(576		)	263		(3,262		)
	Income tax expense	—			—		(16		)
	Total after tax	$	(576	)	$	263	$	(3,278	)

The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31, 2016	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	32,820			5,373			38,193
Amounts reclassified from AOCI to net income, net of tax	576			—			576
Net current period other comprehensive income	33,396			5,373			38,769
Ending balance	(20,716		)	35,604			14,888
Less: AOCI attributable to noncontrolling interest	—			(109		)	(109		)
Ending balance, Maiden shareholders	$	(20,716	)	$	35,713		$	14,997



For the Year Ended December 31, 2015	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	78,579		$	16,665		$	95,244
Other comprehensive income before reclassifications	(132,428		)	13,566			(118,862		)
Amounts reclassified from AOCI to net income, net of tax	(263		)	—			(263		)
Net current period other comprehensive (loss) income	(132,691		)	13,566			(119,125		)
Ending balance	(54,112		)	30,231			(23,881		)
Less: AOCI attributable to noncontrolling interest	—			(114		)	(114		)
Ending balance, Maiden shareholders	$	(54,112	)	$	30,345		$	(23,767	)



For the Year Ended December 31, 2014	Change in net unrealized gains on investment		Foreign currency translation adjustments			Total
Beginning balance	$	34,728	$	(8,927	)	$	25,801
Other comprehensive loss before reclassifications	40,573		25,592			66,165
Amounts reclassified from AOCI to net income, net of tax	3,278		—			3,278
Net current period other comprehensive income	43,851		25,592			69,443
Ending balance	78,579		16,665			95,244
Less: AOCI attributable to noncontrolling interest	—		(49		)	(49		)
Ending balance, Maiden shareholders	$	78,579	$	16,714		$	95,293

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SX 210.5-02(29))
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
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-Subparagraph (SAB Topic 4.C)
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Share Compensation and Pension Plans

12 Months Ended

Dec. 31, 2016

Share-based Compensation [Abstract]

Share Compensation and Pension Plans

The Company’s Amended and Restated 2007 Share Incentive Plan (the "Plan"), provides for grants of options, restricted common shares and restricted share units. The total number of common shares currently reserved for issuance under the Plan is 10,000,000. The Plan is administered by the Compensation Committee of the Board of Directors (the "Committee").

Share Options

Exercise prices of options are established at or above the fair market value of the Company’s common shares at the date of grant. Under the Plan, unless otherwise determined by the Committee and provided in an award agreement, 25% of the options will become exercisable on the first anniversary of the grant date, with an additional 6.25% of the options vesting each quarter thereafter based on the grantee’s continued employment over a four-year period, and will expire ten years after grant date.

The fair value of each option grant is separately estimated for each vesting date. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the award and each vesting date. The Company has estimated the fair value of all share option awards on the date of the grant by applying the Black-Scholes-Merton multiple-option pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of compensation expense.

The key assumptions used in determining the fair value of options granted in 2016, 2015 and 2014 and a summary of the methodology applied to develop each assumption were as follows:



	2016		2015		2014
Assumptions:
Volatility	28.70	%	37.60	%	51.40	%
Risk-free interest rate	1.67	%	1.55	%	1.77	%
Weighted average expected lives in years	5.5 years		5.5 years		6.1 years
Forfeiture rate	1.66	%	2.16	%	3.45	%
Dividend yield rate	3.55	%	4.05	%	3.46	%

Expected Price Volatility — This is a measure of the amount by which a price has fluctuated or is expected to fluctuate. Maiden began trading on May 6, 2008, thus, has a maximum of 8.6 years trading history for estimating historical volatility. Maiden's expected volatility for 2016 of 28.7% was based on the average of the implied volatility and its historical volatility, commensurate with the expected life of the options.

Risk-Free Interest Rate — This is based on the yields on U.S. Treasury constant maturity notes with a term equal to the expected life of the option. An increase in the risk-free interest rate will increase compensation expense.

Expected Lives — This is the period of time over which the options granted are expected to remain outstanding giving consideration to vesting schedules, historical exercise and forfeiture patterns. The Company uses the simplified method outlined in SEC Staff Accounting Bulletin Codification Topic 14 (SAB 14) to estimate expected lives for options granted during the period as there is insufficient observed option exercise and forfeiture behavior from which to base an estimate of the expected life. Options granted have a maximum term of ten years. An increase in the expected life will increase compensation expense.

Forfeiture Rate — This is the estimated percentage of options granted that are expected to be forfeited or cancelled before becoming fully vested. An increase in the forfeiture rate will decrease compensation expense.

Dividend Yield — This is calculated by dividing the expected annual dividend by the share price of the Company at the valuation date. An increase in the dividend yield will decrease compensation expense.

14. Share Compensation and Pension Plans (continued)

The following table shows all options granted, exercised, expired and exchanged under the Plan for the years ended December 31, 2016, 2015 and 2014:



	Number of Share Options		Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value		Range of Exercise Prices
Outstanding, December 31, 2013	2,439,413		$	6.76			5.75 years	$	10,174	$3.28 - $11.22
Granted	45,000		$	12.01	$	4.28				$11.38 - $12.42
Exercised	(120,596	)	$	4.91				$	930
Forfeited	(842	)	$	7.74
Outstanding, December 31, 2014	2,362,975		$	6.95			4.86 years	$	13,791	$3.28 - $12.42
Granted	24,000		$	13.98	$	3.31				$13.98
Exercised	(456,776	)	$	7.27				$	3,521
Expired	(3,442	)	$	8.61
Forfeited	(558	)	$	9.00
Outstanding, December 31, 2015	1,926,199		$	6.96			4.15 years	$	15,306	$3.28 - $13.98
Granted	24,000		$	13.12	$	2.45				$13.12
Exercised	(265,110	)	$	7.28				$	1,453
Expired	(1,000	)	$	7.67
Outstanding, December 31, 2016	1,684,089		$	7.00			3.36 years	$	17,598	$3.28 - $13.98
Total exercisable at December 31, 2016	1,650,027		$	6.88			3.22 years	$	17,433	$3.28 - $13.98

The weighted average grant date fair value was $2.10, $2.13 and $2.11 for all options outstanding at December 31, 2016, 2015 and 2014, respectively. There was $60 (2015 - $125) of total unrecognized compensation cost related to non-vested options at December 31, 2016 which will be recognized during the next 0.60 years. Cash in the amount of $1,931 was received from employees as a result of employee share option exercises during the year ended December 31, 2016 (2015 – $3,318, 2014 – $592). The Company issues new common shares upon the exercise of an option. In connection with these exercises, there was no tax benefit realized by the Company.

Restricted Shares and Share Units

The fair value of each restricted share or share unit is determined based on the market value of the Company's common shares on the date of grant. The total estimated fair value is amortized as an expense on a straight-line basis over the requisite service period as determined by the Committee.

Performance-Based Restricted Share Units

The Committee approved the formation of a long-term incentive program under the Plan on March 1, 2011. On that date, the Committee determined to award PB-RSUs to certain senior leaders of the Company. The formula for determining the amount of PB-RSUs awarded uses a combination of a percentage of the employee's base salary (based on a benchmarking analysis from our compensation consultant) divided by the closing price on NASDAQ of our common shares on that date. The grants are performance based which require that certain criteria such as operating return on common equity, underwriting performance, revenue growth and operating expense be met during the performance period to attain a payout. Each metric has a corresponding weighted percentage with a target and maximum level of performance goal set to achieve a payout. All prior, current and future PB-RSUs are paid 50% based on certain criteria stated above, while the other 50% of the payout is based upon the recommendation of the Company's CEO and the Committee's ultimate discretion of individual contribution to business results and strategic success for the performance period. Settlement of the grants can be made in either common shares or cash upon the decision of the Committee and the performance cycles are for three years.

Effective February 18, 2014, February 17, 2015 and February 15, 2016, the Committee approved the award of PB-RSUs to certain senior leaders of the Company for the fiscal years 2014-2016, 2015-2017 and 2016-2018, respectively.

14. Share Compensation and Pension Plans (continued)

CEO Non-Performance-Based Restricted Share Units

On February 19, 2013, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vested on February 19, 2014, a further one-third automatically vested on February 19, 2015, and the final one-third automatically vested on February 19, 2016. The total fair value of the share units vested for the year ended December 31, 2016 was $500 (2015 - $500, 2014 - $500).

On February 18, 2014, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vested on December 31, 2014, December 31, 2015 and December 31, 2016, respectively. The total fair value of the share units vested for the year ended December 31, 2016 was $268 (2015 - $266, 2014 - $266).

On February 17, 2015, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vested on February 17, 2016, one third will automatically vest on February 17, 2017 and the final one-third will automatically vest on February 17, 2018. The total fair value of the share units vested for the year ended December 31, 2016 was $300.

On February 16, 2016, the Committee approved an award of NPB-RSUs to the Company's CEO with one-third automatically vest on February 16, 2017, a further one third automatically vest on February 16, 2018 and the final one-third will automatically vest on February 16, 2019.

Non-CEO Discretionary Non-Performance-Based Restricted Shares ("NPB-RSs")

On February 19, 2013, pursuant to the Plan, the Committee approved an award of NPB-RSs to certain senior leaders of the Company. 50% of which vested on the first anniversary of the grant date, with an additional 50% due to vest on the second anniversary of the grant date. The total fair value of restricted shares which vested during the years ended December 31, 2015 and 2014 was $479 and $479, respectively.

On February 18, 2014, pursuant to the Plan, the Committee approved an award of NPB-RSs to non-CEO named executive officers and senior leaders of the Company, 50% of which will vest on January 1, 2015, with an additional 50% due to vest on January 1, 2016. The total fair value of restricted shares which vested during the year ended December 31, 2016 was $219 (2015 - $219).

On February 17, 2015 and March 18, 2015, pursuant to the Plan, the Committee approved an award of NPB-RSs to non-CEO named executive officers and senior leaders of the Company, with some vesting over 2 years and some vesting over 3 years from the date of grant. The total fair value of restricted shares which vested during the year ended December 31, 2016 was $209.

On February 15, 2016 and February 23, 2016, pursuant to the Plan, the Committee approved an award of NPB-RSs to non-CEO named executive officers and senior leaders of the Company, which will vest over 2 years.

14. Share Compensation and Pension Plans (continued)

The following schedule shows the summary of activity under the Company's restricted awards:



	CEO Non-Performance-Based Restricted Share Units				Non-CEO Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units⁽¹⁾
	Number of Restricted Units		Weighted Average Grant-Date Fair Value		Number of Restricted Shares		Weighted Average Grant-Date Fair Value		Number of Restricted Units		Weighted Average Grant-Date Fair Value
Non-vested December 31, 2013	149,701		$	10.02	95,590		$	10.02	753,862		$	9.21
Awards granted	70,298		$	11.38	38,522		$	11.38	396,672		$	11.38
Awards vested	(73,333	)	$	10.45	(47,795	)	$	10.02	(100,308	)	$	8.56
Awards forfeited	—		$	—	—		$	—	(242,456	)	$	8.56
Non-vested at December 31, 2014	146,666		$	10.45	86,317		$	10.63	807,770		$	10.51
Awards granted	64,795		$	13.89	38,180		$	13.94	291,730		$	13.89
Awards vested	(73,333	)	$	10.45	(67,061	)	$	10.41	(188,681	)	$	9.54
Awards forfeited	—		$	—	(4,284	)	$	11.38	(165,337	)	$	10.61
Non-vested at December 31, 2015	138,128		$	12.07	53,152		$	13.22	745,482		$	12.05
Awards granted	75,988		$	13.16	23,000		$	12.90	355,544		$	13.11
Awards vested	(94,931	)	$	11.24	(29,949	)	$	12.67	(85,847	)	$	12.29
Awards forfeited	—		$	—	—		$	—	(169,458	)	$	10.02
Non-vested at December 31, 2016	119,185		$	13.42	46,203		$	13.42	845,721		$	12.88

(1) For Performance Based Shares, the number of shares is stated at the maximum number that can be attained if the performance conditions are met. Forfeitures represent shares forfeited due to vesting below the maximum attainable as a result of the Company not fully meeting the performance conditions.

There was $1,048 and $310 of total unrecognized compensation cost related to RSUs and restricted shares at December 31, 2016, both of which will be recognized during the next 1.81 years and 1.08 years, respectively. Total share-based expense for the years ended December 31, 2016, 2015 and 2014, was $3,414, $2,938 and $3,334, respectively.

Pension Plans

The Company provides pension benefits to eligible employees principally through various defined contribution plans sponsored by the Company which vary by subsidiary. The Company’s expenses for its defined contribution plans were $2,805, $2,623 and $2,809 for the years ended December 31, 2016, 2015 and 2014, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Statutory Requirements and Dividend Restrictions

12 Months Ended

Dec. 31, 2016

Statutory Financial Information [Abstract]

Statutory Requirements and Dividend Restrictions

Our insurance and reinsurance operations are subject to insurance and/or reinsurance laws and regulations in the jurisdictions in which they operate, the most significant of which are Bermuda, the United States and Sweden. These regulations include certain liquidity and solvency requirements whereby restrictions are imposed on the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities.

The combined statutory capital and combined statutory net income (loss) of our principal operating subsidiaries in their respective jurisdictions were as follows:



	Maiden Bermuda		Maiden US			Maiden LF
Statutory Capital and Surplus
December 31, 2016	$	1,470,206	$	296,550		$	8,101
December 31, 2015	1,813,766		294,338			7,621

Statutory Net Income (Loss)
For the Year Ended December 31, 2016	$	87,888	$	(3,926	)	$	756
For the Year Ended December 31, 2015	146,027		17,439			(199		)
For the Year Ended December 31, 2014	60,016		16,614			651

At December 31, 2016, the Company's net assets were $1,361,152 (2015 - $1,349,099), of which $1,042,473 (2015 - $724,480) were restricted primarily as a result of solvency and liquidity requirements imposed on the Company's subsidiaries by local regulators as well as collateral requirements under various reinsurance agreements.

a) Bermuda

The Bermuda Monetary Authority ("BMA") is the group supervisor of the Company and has advised that Maiden Bermuda is the designated insurer. These regulations require that a group’s available statutory capital and surplus should be equal to or exceed the value of both its Minimum Solvency Margin ("MSM") and the Enhanced Capital Requirement ("ECR"). The Company has complied with its regulatory capital requirements at December 31, 2016.

Maiden Bermuda is registered as a Class 3B reinsurer under The Insurance Act 1978 (Bermuda), amendments thereto and related regulations (the "Insurance Act") and is required to prepare and file Statutory Financial Statements and a Statutory Financial Return with the BMA. The Statutory Financial Statements are prepared in a consolidated basis in line with U.S. GAAP. There are some differences between financial statements prepared in accordance with U.S. GAAP and those prepared on a statutory basis. Certain assets are non-admitted under Bermuda regulations and are removed from the statutory balance sheet.

Under the Insurance Act, Maiden Bermuda is required to maintain a minimum share capital of $120 and a minimum statutory capital and surplus equal to or greater than the MSM and the value of the ECR. The available statutory economic capital is based on Economic Balance sheet valuation principles, where the consolidated assets and liabilities are fair-valued in line with the GAAP principles adopted by the insurer. ECR is equal to the higher of Maiden Bermuda’s MSM or to the Bermuda Solvency Capital Requirement (“BSCR”) model. The BSCR employs a standard mathematical model that correlates the risk underwritten to the capital that is dedicated to the business. The regulatory requirements are designed to have insurers operate at or above a threshold capital level, which exceeds the BSCR. The BMA has established a target capital level ("TCL") for each Class 3B insurer equal to 120% of its ECR which serves as an early warning tool for the BMA and failure to maintain statutory capital of at least equal to the TCL will likely result in increased BMA regulatory oversight.

Class 3B and 4 insurers and insurance groups are required to maintain statutory economic capital and surplus (“Economic Capital”) for determination of regulatory available capital in accordance with a ‘3 tiered capital regime’. All capital instruments are classified as either basic or ancillary capital which in turn are classified into one of three tiers (Tiers 1, 2 and 3) based on their “loss absorbency” characteristics. Under this regime, there are limits of Tier 1, Tier 2 and Tier 3 capital which may be used to satisfy the Class 3B and 4 insurers’ and Group’s MSM and ECR requirements.

The Company has received approval for certain capital instruments as other fixed capital. In June 2016, the Company issued $110,000 2016 Senior Notes maturing in 2046. The BMA approved the 2016 Senior Notes as Tier-3 ancillary capital to be grandfathered under Section 21 paragraph 10 of the Group Rules until January 1, 2026 as the 2016 Senior Notes do not meet the requirement that coupon payment on the instrument be cancellable or deferrable indefinitely upon breach (or if it would cause breach) in the ECR. The Group’s ECR shall be subject to a regulatory capital add-on comprising three years of coupon payments on the 2016 Senior Notes amounting to $21,863.

15. Statutory Requirements and Dividend Restrictions (continued)

The BSCR for Maiden Bermuda for the year ended December 31, 2016 will not be filed with the BMA until April 2017. As a result, the required statutory capital and surplus as at December 31, 2016, as set out above, is based on the MSM, whereas the required statutory capital and surplus as at December 31, 2015 is based on the MSM and ECR.

The statutory capital and surplus of Maiden Bermuda at December 31, 2016 was $1,470,206 (2015 - $1,813,766) and the amount required to be maintained was $343,728 at December 31, 2016 (2015 - $905,369). Maiden Bermuda is also required to maintain a minimum liquidity ratio. All requirements were met by Maiden Bermuda throughout the period.

Maiden Bermuda is prohibited from declaring or paying dividends of more than 25% of its total statutory capital and surplus, as shown in its previous financial year statutory balance sheet, unless at least seven days before payment of the dividends it files with the BMA an affidavit that it will continue to meet its minimum capital requirements as described above. In addition, Maiden Bermuda must obtain the BMA’s prior approval before reducing its total statutory capital, as shown in its previous financial year statutory balance sheet, by 15% or more. Maiden Bermuda is also restricted in paying dividends that would result in Maiden Bermuda failing to comply with the ECR as calculated based on the BSCR or cause Maiden Bermuda to fail to meet its relevant margins. As at December 31, 2016, Maiden Bermuda is allowed to pay dividends or distributions not exceeding $453,442. During the year ended December 31, 2016, dividends from Maiden Bermuda to Maiden Holdings, Ltd. were $445,000 (2015 - $nil).

b) United States

Maiden US files financial statements in accordance with statutory accounting practices ("SAP") prescribed or permitted by state insurance regulatory authorities. The minimum statutory capital and surplus necessary to satisfy regulatory requirements for Maiden US for the year ended December 31, 2016 was $86,646 (2015 - $78,100). These requirements were met by Maiden US throughout the year ended December 31, 2016. Without prior approval of its domiciliary commissioner, dividends to shareholders are limited by the laws of the company's state of domicile, Missouri to the greater of 10% of statutory policyholders’ surplus at the preceding December 31, or net income, less net realized capital gain on investments, for the 12-month period ending December 31 of the preceding year. Additionally, Maiden US may only pay dividends if it has positive unassigned funds. Accordingly, the maximum dividend payments that can be made to shareholders in the next year without prior approval by the Missouri Department of Insurance is $nil.

c) Sweden

The Company has two Swedish domiciled insurance subsidiaries in Sweden, Maiden LF and Maiden General Försäkrings AB ("Maiden GF"), both regulated by the Swedish Finansinspektionen ("Swedish FSA").

Maiden LF was required to maintain a minimum level of statutory capital and surplus of $3,891 at December 31, 2016 (2015 - $4,019). This requirement was met by Maiden LF throughout the year. Maiden LF is subject to statutory and regulatory restrictions under the Swedish FSA that limit the maximum amount of annual dividends or distributions paid by Maiden LF to Maiden Holdings. At December 31, 2016, Maiden LF is allowed to pay dividends or distributions not exceeding $2,843 (2015 - $2,178).

Maiden GF was granted a general insurance license effective September 14, 2016 with an approved level of initial statutory capital and surplus of $6,135. Maiden GF wrote no business in 2016 as such, its first filing with the Swedish FSA will be for the period ending December 31, 2017.

Taxation

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Taxation

Under current Bermuda law, Maiden Holdings and Maiden Bermuda, have received an undertaking from the Bermuda government exempting them from all local income, withholding and capital gains taxes until March 31, 2035. At the present time, no such taxes are levied in Bermuda. Maiden Holdings and Maiden Bermuda believe that they operate in a manner such that they will not be considered to be engaged in a trade or business in the U.S. Accordingly, Maiden Holdings and Maiden Bermuda have not recorded any provision for U.S. taxation.

Our U.S. subsidiaries are subject to federal, state and local corporate income taxes and other taxes applicable to U.S. corporations. The provision for federal income taxes has been determined under the principles of the consolidated tax provisions of the U.S. Internal Revenue Code and Regulations. Should our U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. During 2015 the Internal Revenue Service completed its audit of our U.S. subsidiaries for tax years 2009, 2010 and 2011. The audit has been closed without any impact on our operations. Tax years 2012, 2013, 2014 and 2015 are not under examination but remain subject to examination in the U.S.

The Company has subsidiary operations in various other locations around the world, including Australia, Austria, Germany, Ireland, Netherlands, Russia, Sweden and the U.K., that are subject to relevant taxes in those jurisdictions. These subsidiaries, are not under examination, but generally remain subject to examination in all applicable jurisdictions for tax years from 2012 through 2015.

Deferred income taxes have not been accrued with respect to certain undistributed earnings of foreign subsidiaries as it is the intention that such earnings will remain reinvested or will not be taxable. If the earnings were to be distributed, as dividends or otherwise, such amounts may be subject to withholding tax in the country of the paying entity. Currently, however, no withholding taxes have been accrued.

There were no unrecognized tax benefits at December 31, 2016, 2015 and 2014. Income before taxes and income tax expense for the years ended December 31, 2016, 2015 and 2014 was as follows:



For the Year Ended December 31,	2016			2015			2014
Income before income taxes – Domestic (Bermuda)	$	67,881		$	134,012		$	117,780
Loss before income taxes – Foreign (U.S. and others)	(18,169		)	(7,690		)	(14,083		)
Total income before income taxes	$	49,712		$	126,322		$	103,697

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	490			780			945
Total current tax expense	490			780			945

Deferred tax expense – Domestic (Bermuda)	—			—			—
Deferred tax expense – Foreign (U.S. and others)	1,084			1,258			1,219
Total deferred tax expense	1,084			1,258			1,219

Total income tax expense	$	1,574		$	2,038		$	2,164

16. Taxation (continued)

The following table is a reconciliation of the actual income tax rate for the years ended December 31, 2016, 2015 and 2014 to the amount computed by applying the effective tax rate of 0.0% under Bermuda law to income before income taxes:



For the Year Ended December 31,	2016			2015			2014
Income before income taxes	$	49,712		$	126,322		$	103,697
Income tax expense	1,574			2,038			2,164
Net income	$	48,138		$	124,284		$	101,533
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	(10.8		)%	(2.2		)%	(7.3		)%
Valuation allowance in respect of U.S. taxes	13.2		%	3.2		%	8.5		%
Other jurisdictions	0.8		%	0.6		%	0.9		%
Actual tax rate	3.2		%	1.6		%	2.1		%

Deferred income taxes reflect the tax impact of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The significant components of our deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows:



December 31,	2016		2015
Deferred tax assets:
Net operating losses	$	63,143	$	60,147
Unearned premiums	11,336		9,459
Discounting of net loss and LAE reserves	12,091		11,756
Net unrealized losses on investments	—		4,374
Accruals not currently deductible	160		109
Amortization of intangibles	2,439		2,796
OTTI	1,198		1,198
Others	3,289		543
Deferred tax assets before valuation allowance	93,656		90,382
Valuation allowance	78,300		78,845
Deferred tax assets, net	15,356		11,537
Deferred tax liabilities:
Deferred commission and other acquisition expenses	11,826		10,664
Indefinite lived intangible	1,750		1,750
Amortization of goodwill	9,480		8,319
Net unrealized gains on investment	2,713		—
Others	730		866
Deferred tax liabilities	26,499		21,599
Net deferred tax liability	$	11,143	$	10,062

The net deferred tax liability at December 31, 2016 was $11,143 (2015 - $10,062). A valuation allowance has been established against the net U.S. deferred tax assets which is primarily attributable to net operating losses, unearned premium and loss reserve discounting. At this time, we believe it is necessary to establish a valuation allowance against the net deferred tax assets due to insufficient positive evidence regarding the utilization of these losses. During 2016, the Company recorded a decrease in the valuation allowance of $545 (2015 - increase of $13,102). At December 31, 2016, the Company has an available U.S. net operating loss carry-forward of approximately $180,408 (2015 - $171,848) for income tax purposes which expires beginning in 2029.

Condensed Quarterly Financial Data - Unaudited

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Condensed Quarterly Financial Data — Unaudited

The following tables summarize our quarterly financial data:



2016 Quarters Ended	March 31		June 30		September 30		December 31⁽¹⁾
Total revenues	$	659,414	$	674,746	$	738,189	$	659,284
Net income (loss)	36,829		39,887		40,796		(69,374		)
Net income (loss) attributable to Maiden common shareholders	27,216		30,910		31,829		(74,731		)
Comprehensive income (loss) – attributable to Maiden	130,130		89,389		45,802		(177,577		)
Basic earnings (loss) per common share attributable to Maiden common shareholders⁽²⁾	$	0.37	$	0.42	$	0.42	$	(0.87	)
Diluted earnings (loss) per common share attributable to Maiden common shareholders⁽²⁾	$	0.35	$	0.39	$	0.40	$	(0.87	)



2015 Quarters Ended	March 31		June 30			September 30		December 31
Total revenues	$	611,427	$	647,071		$	693,696	$	620,917
Net income	38,534		26,511			28,515		30,724
Net income attributable to Maiden common shareholders	32,405		20,519			22,499		24,716
Comprehensive income (loss) – attributable to Maiden	50,694		(39,962		)	10,658		(15,974		)
Basic earnings per common share attributable to Maiden common shareholders	$	0.44	$	0.28		$	0.31	$	0.34
Diluted earnings per common share attributable to Maiden common shareholders	$	0.41	$	0.27		$	0.30	$	0.32

(1)

During the fourth quarter of 2016, following the receipt of updated information during the Company's reserving process and in response to a very challenging commercial auto market, the Company increased the reserve for loss and LAE in both our Diversified Reinsurance and AmTrust Reinsurance segments as well as our NGHC run-off business. The Company recorded unfavorable reserve development which reduced its net income, net income attributable to Maiden common shareholders and comprehensive income during the three months ended December 31, 2016 by approximately $120,426 or $1.40 per basic common share and $1.39 per diluted common share.


(2)	Basic earnings (loss) per common share attributable to Maiden common shareholders and diluted earnings (loss) per common share attributable to Maiden common shareholders is calculated as a function of average shares issued, or dilutive, during the respective period.

The effect of mandatory convertible preference shares were excluded in the calculation of diluted EPS for the year ended December 31, 2016 (for the period that the convertible shares were outstanding) as they were anti-dilutive however they were dilutive in each of the first three quarters of 2016 until their mandatory conversion to common shares on September 15, 2016. Please refer to "Note 12. Earnings per Common Share" for further details.

Schedule I Summary of Investments, Other than Investments in Related Parties

12 Months Ended

Dec. 31, 2016

Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I Summary of Investments Other than Investments in Related Parties

Schedule I

MAIDEN HOLDINGS, LTD.
SUMMARY OF INVESTMENTS
OTHER THAN INVESTMENTS IN RELATED PARTIES
(in thousands of U.S. dollars)



December 31, 2016	Amortized Cost⁽¹⁾		Fair Value		Amount at Which Shown in the Balance Sheet
AFS fixed maturities:
U.S. treasury bonds	$	5,186	$	5,413	$	5,413
U.S. agency bonds – mortgage-backed	1,720,436		1,716,038		1,716,038
U.S. agency bonds – other	18,082		18,102		18,102
Non-U.S. government and supranational bonds	35,158		29,934		29,934
Asset-backed securities	217,232		220,876		220,876
Corporate bonds	1,947,347		1,916,205		1,916,205
Municipal bonds	62,201		65,098		65,098
Total AFS fixed maturities	4,005,642		3,971,666		3,971,666
HTM fixed maturities:
Corporate bonds	752,212		766,135		752,212
Total HTM fixed maturities	752,212		766,135		752,212
Other investments	10,057		13,060		13,060
Total investments	$	4,767,911	$	4,750,861	$	4,736,938

(1) Original cost of other investments and, for fixed maturities, original cost reduced by repayments and adjusted for amortization of premiums or discounts

Schedule II Condensed Financial Information of Parent Company

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule II Condensed Financial Information of Parent Company

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED BALANCE SHEETS — PARENT COMPANY
As of December 31, 2016 and 2015

(In thousands of U.S. dollars, except share and per share data)



	2016			2015
Assets
Fixed maturities, available-for-sale, at fair value (Amortized cost 2016: $16,220; 2015: $42,774)	$	16,363		$	40,189
Other investments, at fair value (Cost 2016: $4,752; 2015: $5,000)	6,586			4,905
Cash and cash equivalents	16,677			3,606
Investment in subsidiaries	1,555,857			1,736,707
Balances due from subsidiaries	73,414			120,100
Other assets	7,220			1,123
Total assets	$	1,676,117		$	1,906,630
Liabilities
Accrued expenses and other liabilities	$	14,478		$	12,217
Balances due to subsidiaries	194,536			546,592
Senior notes
Principal amount	110,000			—
Less unamortized debt issuance costs	3,694			—
Senior notes, net	106,306			—
Total liabilities	315,320			558,809
Shareholders’ equity
Preference shares	315,000			480,000
Common shares ($0.01 par value; 87,321,012 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,271,109 and 73,721,140 shares outstanding in 2016 and 2015, respectively)	873			747
Additional paid-in capital	749,256			579,178
Accumulated other comprehensive income (loss)	14,997			(23,767		)
Retained earnings	285,662			316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively)	(4,991		)	(4,521		)
Total shareholders’ equity	1,360,797			1,347,821
Total liabilities and shareholders’ equity	$	1,676,117		$	1,906,630

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME — PARENT COMPANY
For the Years Ended December 31, 2016, 2015 and 2014
(In thousands of U.S. dollars)



For the Year Ended December 31,	2016			2015			2014
Revenues
Net investment income	$	1,693		$	2,034		$	4,892
Net realized gains on investment	1,990			20			981
Other fee revenue	—			1,321			—
	3,683			3,375			5,873
Expenses
General and administrative expenses	17,008			16,319			14,588
Interest and amortization expenses	3,988			—			—
Foreign exchange and other losses	1,371			668			893
	22,367			16,987			15,481
Loss before equity in earnings of consolidated subsidiaries	(18,684		)	(13,612		)	(9,608		)
Equity in earnings of consolidated subsidiaries	67,664			138,088			110,999
Net income	48,980			124,476			101,391
Dividends on preference shares	(33,756		)	(24,337		)	(24,337		)
Net income attributable to Maiden common shareholders	$	15,224		$	100,139		$	77,054

Comprehensive income attributable to Maiden	$	87,744		$	5,416		$	170,900

Schedule II

MAIDEN HOLDINGS, LTD.
CONDENSED STATEMENTS OF CASH FLOWS — PARENT COMPANY
For the Years Ended December 31, 2016, 2015 and 2014
(In thousands of U.S. dollars)



For the Year Ended December 31,	2016			2015			2014
Cash flows provided by operating activities
Net income	$	48,980		$	124,476		$	101,391
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of consolidated subsidiaries	(67,664		)	(138,088		)	(110,999		)
Amortization of bond premium and discount	207			222			414
Net realized gains on investment	(1,990		)	(20		)	(981		)
Foreign exchange and other losses	1,371			668			893
Non-cash share compensation expense	3,414			2,938			3,334
Changes in assets – (increase) decrease:
Balance due from subsidiaries	(7,222		)	(20,930		)	(87,605)
Other assets	(125		)	237			536
Changes in liabilities – increase (decrease)
Accounts payable and accrued liabilities	(216		)	12			(138)
Balances due to subsidiaries	84,504			49,162			120,069
Net cash provided by operating activities	61,259			18,677			26,914
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale	(16,203		)	—			(1,340		)
Purchases of other investments	—			—			(5,000		)
Proceeds from sales of fixed-maturities – available-for-sale	44,475			1,041			87,032
Proceeds from maturities and calls of fixed maturities	—			—			6,857
Proceeds from sales of other investments	350			—			—
Investment in subsidiaries	(107,546		)	(122,757		)	(84,740		)
Net cash (used in) provided by investing activities	(78,924		)	(121,716		)	2,809
Cash flows used in financing activities
Senior notes, net of issuance costs	106,285			—			—
Preference shares issuance, net of issuance costs	(143		)	159,628			—
Dividends paid – preference shares	(33,756		)	(24,337		)	(24,337		)
Dividends paid – Maiden common shareholders	(43,127		)	(38,204		)	(32,079		)
Issuance of common shares	1,931			3,318			592
Repurchase of common shares	(470		)	(654		)	(66		)
Net cash provided by (used in) financing activities	30,720			99,751			(55,890		)
Effect of exchange rate changes on foreign currency cash	16			—			—
Net increase (decrease) in cash and cash equivalents	13,071			(3,288		)	(26,167		)
Cash and cash equivalents, beginning of year	3,606			6,894			33,061
Cash and cash equivalents, end of year	$	16,677		$	3,606		$	6,894

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Schedule III Supplementary Insurance Information

12 Months Ended

Dec. 31, 2016

Supplementary Insurance Information [Abstract]

Schedule III Supplementary Insurance Information

Schedule III

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
(In thousands of U.S. dollars)



	December 31, 2016						For the Year Ended December 31, 2016
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	85,432	$	1,103,936	$	323,873	$	724,124	$	—	$	579,520	$	188,506	$	35,681	$	766,119
AmTrust Reinsurance	339,173		1,757,728		1,151,633		1,843,621		—		1,225,830		584,820		2,896		1,888,428
Total - Reportable Segments	424,605		2,861,664		1,475,506		2,567,745		—		1,805,350		773,326		38,577		2,654,547
Other	—		34,832		—		405		145,892		14,556		338		28,407		405
Total	$	424,605	$	2,896,496	$	1,475,506	$	2,568,150	$	145,892	$	1,819,906	$	773,664	$	66,984	$	2,654,952



	December 31, 2015						For the Year Ended December 31, 2015
	Deferred commission and other acquisition expenses		Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	80,012	$	1,046,471	$	277,460	$	744,875	$	—	$	547,296	$	196,292	$	35,312	$	734,781
AmTrust Reinsurance	317,536		1,420,418		1,077,112		1,684,191		—		1,074,072		527,863		3,016		1,779,334
Total - Reportable Segments	397,548		2,466,889		1,354,572		2,429,066		—		1,621,368		724,155		38,328		2,514,115
Other	—		43,212		—		3		131,092		12,202		42		26,544		1
Total	$	397,548	$	2,510,101	$	1,354,572	$	2,429,069	$	131,092	$	1,633,570	$	724,197	$	64,872	$	2,514,116



	December 31, 2014							For the Year Ended December 31, 2014
	Deferred commission and other acquisition expenses			Reserve for loss and loss adjustment expenses		Unearned premiums		Net premiums earned		Net investment income		Net loss and LAE		Amortization of deferred commission and other acquisition expenses		General and admin. expenses		Net premiums written
Diversified Reinsurance	$	87,289		$	1,058,924	$	293,893	$	854,026	$	—	$	579,771	$	233,711	$	38,858	$	850,049
AmTrust Reinsurance	285,232			1,122,479		913,861		1,378,327		—		893,502		418,908		2,533		1,610,485
Total - Reportable Segments	372,521			2,181,403		1,207,754		2,232,353		—		1,473,273		652,619		41,391		2,460,534
Other	(34		)	89,889		3		19,390		117,215		24,998		6,696		21,167		(2,398		)
Total	$	372,487		$	2,271,292	$	1,207,757	$	2,251,743	$	117,215	$	1,498,271	$	659,315	$	62,558	$	2,458,136

Schedule IV Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2016

Supplementary Insurance Information [Abstract]

Schedule IV Supplementary Reinsurance Information

Schedule IV

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY REINSURANCE INFORMATION
(In thousands of U.S. dollars)



For the Year Ended December 31,	(a) Gross		(b) Ceded to other companies		(c) Assumed from other companies		(d) Net amount (a) - (b) + (c)		Percentage of amount to net (c)/(d)
2016 Premiums – General Insurance	$	8,045	$	176,396	$	2,823,303	$	2,654,952	106.3	%
2015 Premiums – General Insurance	9,160		148,710		2,653,666		2,514,116		105.6	%
2014 Premiums – General Insurance	48,565		49,216		2,458,787		2,458,136		100.0	%

Schedule VI

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
CONCERNING PROPERTY/CASUALTY INSURANCE OPERATIONS
(In thousands of U.S. dollars)



	Net loss and LAE				Paid loss and LAE
For the Year Ended December 31,	Current Year		Prior Year		Paid loss and LAE
2016	$	1,600,454	$	219,452	$	1,437,591
2015	1,558,704		74,866		1,350,357
2014	1,479,425		18,846		1,135,791

Schedule VI Supplementary Reinsurance Information

12 Months Ended

Dec. 31, 2016

Supplementary Insurance Information [Abstract]

Schedule VI Supplementary Reinsurance Information

Schedule IV

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY REINSURANCE INFORMATION
(In thousands of U.S. dollars)



For the Year Ended December 31,	(a) Gross		(b) Ceded to other companies		(c) Assumed from other companies		(d) Net amount (a) - (b) + (c)		Percentage of amount to net (c)/(d)
2016 Premiums – General Insurance	$	8,045	$	176,396	$	2,823,303	$	2,654,952	106.3	%
2015 Premiums – General Insurance	9,160		148,710		2,653,666		2,514,116		105.6	%
2014 Premiums – General Insurance	48,565		49,216		2,458,787		2,458,136		100.0	%

Schedule VI

MAIDEN HOLDINGS, LTD.
SUPPLEMENTARY INSURANCE INFORMATION
CONCERNING PROPERTY/CASUALTY INSURANCE OPERATIONS
(In thousands of U.S. dollars)



	Net loss and LAE				Paid loss and LAE
For the Year Ended December 31,	Current Year		Prior Year		Paid loss and LAE
2016	$	1,600,454	$	219,452	$	1,437,591
2015	1,558,704		74,866		1,350,357
2014	1,479,425		18,846		1,135,791

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Basis of Reporting and Consolidation

Estimates


•	reserve for loss and loss adjustment expenses ("loss and LAE");


•	recoverability of deferred commission and other acquisition expenses;


•	determination of impairment of goodwill and other intangible assets;


•	valuation of financial instruments; and


•	determination of other-than-temporary impairment ("OTTI") of investments.

Investments

2. Significant Accounting Policies (continued)


•	Historic and implied volatility of the security;


•	Length of time and extent to which the fair value has been less than amortized cost;


•	Adverse conditions specifically related to the security or to specific conditions in an industry or geographic area;


•	Failure, if any, of the issuer of the security to make scheduled payments; and


•	Recoveries or additional declines in fair value subsequent to the balance sheet date.

Fair Value Measurements

•

2. Significant Accounting Policies (continued)


•	Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect our own assumptions about assumptions that market participants would use. Examples of assets and liabilities utilizing Level 3 inputs include: insurance and reinsurance derivative contracts; and hedge and credit funds with partial transparency.

Cash and Cash Equivalents

Premiums and Related Expenses

Assumed and ceded reinsurance contracts that lack a significant transfer of risk are treated as deposits. No deposit contracts are held as at December 31, 2016 and 2015.

2. Significant Accounting Policies (continued)

Loss and Loss Adjustment Expenses Incurred

Reinsurance

Debt Obligations and Deferred Debt Issuance Costs

Goodwill and Intangible Assets

Noncontrolling Interests

Income Taxes

Share-Based Compensation Expense

Earnings Per Share

Treasury Shares

Foreign Currency Transactions

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards Updates

Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)

Disclosures about Short-Duration Contracts

Simplifying the Presentation of Debt Issuance Costs

Recently Issued Accounting Standards Not Yet Adopted

Recognition and Measurement of Financial Assets and Financial Liabilities

Accounting for Leases

2. Significant Accounting Policies (continued)

Improvements to Employee Share-Based Payment Accounting

Accounting for Measurement of Credit Losses on Financial Instruments

Classification of Certain Cash Receipts and Cash Payments

Presentation of Restricted Cash in the Statement of Cash Flows

Simplified Accounting for Goodwill Impairment

Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Underwriting results of operating segments

The following tables summarize our reporting segment's underwriting results and the reconciliation of our reportable segments and Other category's underwriting results to our consolidated net income:



For the Year Ended December 31, 2016	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	824,341		$	2,006,646		$	361		$	2,831,348
Net premiums written	$	766,119		$	1,888,428		$	405		$	2,654,952
Net premiums earned	$	724,124		$	1,843,621		$	405		$	2,568,150
Other insurance revenue	10,817			—			—			10,817
Net loss and LAE	(579,520		)	(1,225,830		)	(14,556		)	(1,819,906		)
Commission and other acquisition expenses	(188,506		)	(584,820		)	(338		)	(773,664		)
General and administrative expenses	(35,681		)	(2,896		)	—			(38,577		)
Underwriting (loss) income	$	(68,766	)	$	30,075		$	(14,489	)	(53,180		)
Reconciliation to net income
Net investment income and realized gains on investment										152,666
Interest and amortization expenses										(28,173		)
Accelerated amortization of senior note issuance cost										(2,345		)
Amortization of intangible assets										(2,461		)
Foreign exchange and other gains, net										11,612
Other general and administrative expenses										(28,407		)
Income tax expense										(1,574		)
Net income										$	48,138

Net loss and LAE ratio⁽¹⁾	78.9		%	66.5		%				70.6		%
Commission and other acquisition expense ratio⁽²⁾	25.6		%	31.7		%				30.0		%
General and administrative expense ratio⁽³⁾	4.9		%	0.2		%				2.6		%
Combined ratio⁽⁴⁾	109.4		%	98.4		%				103.2		%

3. Segment Information (continued)



For the Year Ended December 31, 2015	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	776,852		$	1,885,974		$	(1	)	$	2,662,825
Net premiums written	$	734,781		$	1,779,334		$	1		$	2,514,116
Net premiums earned	$	744,875		$	1,684,191		$	3		$	2,429,069
Other insurance revenue	11,512			—			—			11,512
Net loss and LAE	(547,296		)	(1,074,072		)	(12,202		)	(1,633,570		)
Commission and other acquisition expenses	(196,292		)	(527,863		)	(42		)	(724,197		)
General and administrative expenses	(35,312		)	(3,016		)	—			(38,328		)
Underwriting (loss) income	$	(22,513	)	$	79,240		$	(12,241	)	44,486
Reconciliation to net income
Net investment income and realized gains on investment										133,590
Net impairment losses recognized in earnings										(1,060		)
Interest and amortization expenses										(29,063		)
Amortization of intangible assets										(2,840		)
Foreign exchange and other gains, net										7,753
Other general and administrative expenses										(26,544		)
Income tax expense										(2,038		)
Net income										$	124,284

Net loss and LAE ratio⁽¹⁾	72.3		%	63.8		%				66.9		%
Commission and other acquisition expense ratio⁽²⁾	26.0		%	31.3		%				29.7		%
General and administrative expense ratio⁽³⁾	4.7		%	0.2		%				2.7		%
Combined ratio⁽⁴⁾	103.0		%	95.3		%				99.3		%

3. Segment Information (continued)



For the Year Ended December 31, 2014	Diversified Reinsurance			AmTrust Reinsurance			Other			Total
Gross premiums written	$	897,748		$	1,610,485		$	(881	)	$	2,507,352
Net premiums written	$	850,049		$	1,610,485		$	(2,398	)	$	2,458,136
Net premiums earned	$	854,026		$	1,378,327		$	19,390		$	2,251,743
Other insurance revenue	13,410			—			—			13,410
Net loss and LAE	(579,771		)	(893,502		)	(24,998		)	(1,498,271		)
Commission and other acquisition expenses	(233,711		)	(418,908		)	(6,696		)	(659,315		)
General and administrative expenses	(38,858		)	(2,533		)	(757		)	(42,148		)
Underwriting income (loss)	$	15,096		$	63,384		$	(13,061	)	65,419
Reconciliation to net income
Net investment income and realized gains on investment										118,378
Net impairment losses recognized in earnings										(2,364		)
Interest and amortization expenses										(29,959		)
Accelerated amortization of debt discount and issuance cost										(28,240		)
Amortization of intangible assets										(3,277		)
Foreign exchange and other gains, net										4,150
Other general and administrative expenses										(20,410		)
Income tax expense										(2,164		)
Net income										$	101,533

Net loss and LAE ratio ⁽¹⁾	66.8		%	64.8		%				66.1		%
Commission and other acquisition expense ratio ⁽²⁾	26.9		%	30.4		%				29.1		%
General and administrative expense ratio ⁽³⁾	4.6		%	0.2		%				2.8		%
Combined ratio⁽⁴⁾	98.3		%	95.4		%				98.0		%


(1)	Calculated by dividing net loss and LAE by the sum of net premiums earned and other insurance revenue.


(2)	Calculated by dividing commission and other acquisition expenses by the sum of net premiums earned and other insurance revenue.


(3)	Calculated by dividing general and administrative expenses by the sum of net premiums earned and other insurance revenue.


(4)	Calculated by adding together net loss and LAE ratio, commission and other acquisition expense ratio and general and administrative expense ratio.

3. Segment Information (continued)

The following tables summarize the financial position of our reportable segments including the reconciliation to our consolidated assets at December 31, 2016 and 2015:



December 31, 2016	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	281,073	$	119,151	$	400,224
Reinsurance recoverable on unpaid losses	54,299		32,933		87,232
Deferred commission and other acquisition expenses	85,432		339,173		424,605
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	77,715		—		77,715
Restricted cash and cash equivalents and investments	1,364,844		3,020,759		4,385,603
Other assets	41,008		103,025		144,033
Total assets - reportable segments	$	1,904,371	$	3,783,016	5,687,387
Corporate assets					564,912
Total Assets					$	6,252,299

December 31, 2015	Diversified Reinsurance		AmTrust Reinsurance		Total
Reinsurance balances receivable, net	$	230,223	$	137,586	$	367,809
Reinsurance recoverable on unpaid losses	38,390		14,230		52,620
Deferred commission and other acquisition expenses	80,012		317,536		397,548
Loan to related party	—		167,975		167,975
Goodwill and intangible assets, net	81,920		—		81,920
Restricted cash and cash equivalents and investments	1,178,076		2,468,689		3,646,765
Other assets	35,920		72,843		108,763
Total assets - reportable segments	$	1,644,541	$	3,178,859	4,823,400
Corporate assets					880,178
Total Assets					$	5,703,578

Gross and net premiums written and net premiums earned by geographic location



For the Year Ended December 31,	2016		2015		2014
Gross premiums written – North America	$	2,442,483	$	2,165,309	$	1,979,768
Gross premiums written – Other (predominantly Europe)	388,865		497,516		527,584
Gross premiums written – Total	$	2,831,348	$	2,662,825	$	2,507,352
Net premiums written – North America	$	2,280,232	$	2,038,444	$	1,934,644
Net premiums written – Other (predominantly Europe)	374,720		475,672		523,492
Net premiums written – Total	$	2,654,952	$	2,514,116	$	2,458,136
Net premiums earned – North America	$	2,184,184	$	2,027,141	$	1,778,579
Net premiums earned – Other (predominantly Europe)	383,966		401,928		473,164
Net premiums earned – Total	$	2,568,150	$	2,429,069	$	2,251,743

Net premiums by major line of business

The following tables set forth financial information relating to net premiums written by major line of business and reportable segment for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31,	2016				2015				2014
	Total		% of Total		Total		% of Total		Total			% of Total
Net premiums written
Diversified Reinsurance
Property	$	141,353	5.3	%	$	160,939	6.4	%	$	160,308		6.5	%
Casualty	466,089		17.6	%	435,625		17.3	%	535,518			21.8	%
Accident and Health	80,004		3.0	%	64,102		2.6	%	38,870			1.6	%
International	78,673		3.0	%	74,115		2.9	%	115,353			4.7	%
Total Diversified Reinsurance	766,119		28.9	%	734,781		29.2	%	850,049			34.6	%
AmTrust Reinsurance
Small Commercial Business	1,181,496		44.5	%	1,057,968		42.1	%	857,576			34.9	%
Specialty Program	344,677		13.0	%	332,416		13.2	%	220,121			8.9	%
Specialty Risk and Extended Warranty	362,255		13.6	%	388,950		15.5	%	532,788			21.7	%
Total AmTrust Reinsurance	1,888,428		71.1	%	1,779,334		70.8	%	1,610,485			65.5	%
Other	405		—	%	1		—	%	(2,398		)	(0.1	)%
	$	2,654,952	100.0	%	$	2,514,116	100.0	%	$	2,458,136		100.0	%

The following tables set forth financial information relating to net premiums earned by major line of business and reportable segment for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31,	2016				2015				2014
	Total		% of Total		Total		% of Total		Total		% of Total
Net premiums earned
Diversified Reinsurance
Property	$	136,629	5.3	%	$	157,186	6.5	%	$	174,785	7.7	%
Casualty	432,509		16.8	%	449,000		18.5	%	533,775		23.7	%
Accident and Health	74,204		2.9	%	55,672		2.3	%	39,918		1.8	%
International	80,782		3.2	%	83,017		3.4	%	105,548		4.7	%
Total Diversified Reinsurance	724,124		28.2	%	744,875		30.7	%	854,026		37.9	%
AmTrust Reinsurance
Small Commercial Business	1,131,582		44.1	%	984,333		40.5	%	752,188		33.4	%
Specialty Program	337,396		13.1	%	290,209		11.9	%	175,286		7.8	%
Specialty Risk and Extended Warranty	374,643		14.6	%	409,649		16.9	%	450,853		20.0	%
Total AmTrust Reinsurance	1,843,621		71.8	%	1,684,191		69.3	%	1,378,327		61.2	%
Other	405		—	%	3		—	%	19,390		0.9	%
	$	2,568,150	100.0	%	$	2,429,069	100.0	%	$	2,251,743	100.0	%

Investments (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Investments [Abstract]

Original or amortized cost, estimated fair value and gross unrealized gains and losses of available-for-sale and other investments

The original or amortized cost, estimated fair value and gross unrealized gains and losses of fixed maturities and other investments at December 31, 2016 and 2015, are as follows:



December 31, 2016	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,186	$	238	$	(11	)	$	5,413
U.S. agency bonds – mortgage-backed	1,720,436		12,867		(17,265		)	1,716,038
U.S. agency bonds – other	18,082		20		—			18,102
Non-U.S. government and supranational bonds	35,158		73		(5,297		)	29,934
Asset-backed securities	217,232		3,713		(69		)	220,876
Corporate bonds	1,947,347		30,951		(62,093		)	1,916,205
Municipal bonds	62,201		2,897		—			65,098
Total AFS fixed maturities	4,005,642		50,759		(84,735		)	3,971,666
HTM fixed maturities:
Corporate bonds	752,212		16,370		(2,447		)	766,135
Total HTM fixed maturities	752,212		16,370		(2,447		)	766,135
Other investments	10,057		3,003		—			13,060
Total investments	$	4,767,911	$	70,132	$	(87,182	)	$	4,750,861



December 31, 2015	Original or amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
AFS fixed maturities:
U.S. treasury bonds	$	5,714	$	312	$	(16	)	$	6,010
U.S. agency bonds – mortgage-backed	1,471,782		15,399		(10,190		)	1,476,991
U.S. agency bonds – other	23,734		577		—			24,311
Non-U.S. government and supranational bonds	35,128		—		(4,584		)	30,544
Asset-backed securities	165,719		1,174		(1,089		)	165,804
Corporate bonds	1,798,610		38,070		(97,012		)	1,739,668
Municipal bonds	62,177		2,583		—			64,760
Total AFS fixed maturities	3,562,864		58,115		(112,891		)	3,508,088
HTM fixed maturities:
Corporate bonds	607,843		3,458		(12,326		)	598,975
Total HTM fixed maturities	607,843		3,458		(12,326		)	598,975
Other investments	10,816		1,091		(95		)	11,812
Total investments	$	4,181,523	$	62,664	$	(125,312	)	$	4,118,875

Contractual maturities of fixed maturities, available-for-sale



	AFS fixed maturities				HTM fixed maturities
December 31, 2016	Amortized cost		Fair value		Amortized cost		Fair value
Maturity
Due in one year or less	$	69,278	$	61,219	$	—	$	—
Due after one year through five years	578,034		560,141		260,557		263,990
Due after five years through ten years	1,378,403		1,371,356		486,568		497,101
Due after ten years	42,259		42,036		5,087		5,044
	2,067,974		2,034,752		752,212		766,135
U.S. agency bonds – mortgage-backed	1,720,436		1,716,038		—		—
Asset-backed securities	217,232		220,876		—		—
Total fixed maturities	$	4,005,642	$	3,971,666	$	752,212	$	766,135

Summary of available-for-sale securities and other investments in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the securities have continuously been in an unrealized loss position



	Less than 12 Months					12 Months or More					Total
December 31, 2016	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	589	$	(11	)	$	—	$	—		$	589	$	(11	)
U.S. agency bonds – mortgage-backed	997,943		(14,440		)	47,969		(2,825		)	1,045,912		(17,265		)
Non–U.S. government and supranational bonds	3,169		(160		)	25,236		(5,137		)	28,405		(5,297		)
Asset-backed securities	30,589		(69		)	—		—			30,589		(69		)
Corporate bonds	642,599		(15,058		)	357,954		(49,482		)	1,000,553		(64,540		)
Total temporarily impaired fixed maturities	$	1,674,889	$	(29,738	)	$	431,159	$	(57,444	)	$	2,106,048	$	(87,182	)

4. Investments (continued)



	Less than 12 Months					12 Months or More					Total
December 31, 2015	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Fixed maturities
U.S. treasury bonds	$	1,119	$	(16	)	$	—	$	—		$	1,119	$	(16	)
U.S. agency bonds – mortgage-backed	443,331		(4,113		)	170,053		(6,077		)	613,384		(10,190		)
Non-U.S. government and supranational bonds	6,958		(365		)	22,586		(4,219		)	29,544		(4,584		)
Asset-backed securities	89,838		(1,089		)	—		—			89,838		(1,089		)
Corporate bonds	752,911		(41,352		)	399,779		(67,986		)	1,152,690		(109,338		)
Total temporarily impaired fixed maturities	1,294,157		(46,935		)	592,418		(78,282		)	1,886,575		(125,217		)
Other investments	4,905		(95		)	—		—			4,905		(95		)
Total temporarily impaired fixed maturities and other investments	$	1,299,062	$	(47,030	)	$	592,418	$	(78,282	)	$	1,891,480	$	(125,312	)

Summary of the credit ratings of fixed maturities

The following summarizes the credit ratings of our fixed maturities:



Ratings⁽¹⁾ at December 31, 2016	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	5,186	$	5,413	0.1	%
U.S. agency bonds	1,738,518		1,734,140		36.6	%
AAA	170,515		171,090		3.6	%
AA+, AA, AA-	238,315		237,169		5.0	%
A+, A, A-	1,386,023		1,374,860		29.0	%
BBB+, BBB, BBB-	1,053,529		1,047,376		22.2	%
BB+ or lower	165,768		167,753		3.5	%
Total fixed maturities	$	4,757,854	$	4,737,801	100.0	%

4. Investments (continued)



Ratings⁽¹⁾ at December 31, 2015	Amortized cost		Fair value		% of Total fair value
U.S. treasury bonds	$	5,714	$	6,010	0.1	%
U.S. agency bonds	1,495,516		1,501,302		36.6	%
AAA	170,190		170,391		4.1	%
AA+, AA, AA-	222,506		223,084		5.4	%
A+, A, A-	1,075,550		1,066,794		26.0	%
BBB+, BBB, BBB-	1,077,064		1,039,228		25.3	%
BB+ or lower	124,167		100,254		2.5	%
Total fixed maturities	$	4,170,707	$	4,107,063	100.0	%


⁽¹⁾	Based on Standard & Poor’s ("S&P"), or equivalent, ratings

Portfolio of other investments

The table below shows our portfolio of other investments:



December 31,	2016				2015
	Fair value		% of Total fair value		Fair value		% of Total fair value
Investment in limited partnerships	$	5,474	41.9	%	$	5,907	50.0	%
Investment in quoted equity	6,586		50.4	%	4,905		41.5	%
Other	1,000		7.7	%	1,000		8.5	%
Total other investments	$	13,060	100.0	%	$	11,812	100.0	%

Net investment income

Net investment income was derived from the following sources:



For the Year Ended December 31,	2016			2015			2014
Fixed maturities	$	147,011		$	132,394		$	118,203
Cash and cash equivalents	3,328			2,578			2,224
Loan to related party	2,360			1,865			1,797
Other	118			312			246
	152,817			137,149			122,470
Investment expenses	(6,925		)	(6,057		)	(5,255		)
Net investment income	$	145,892		$	131,092		$	117,215

Analysis of realized and unrealized gains on investment

The following provides an analysis of net realized gains on investment included in the Consolidated Statements of Income:



For the Year Ended December 31, 2016	Gross gains		Gross losses			Net
AFS fixed maturities	$	7,140	$	(916	)	$	6,224
Other investments	550		—			550
Net realized gains on investment	$	7,690	$	(916	)	$	6,774

4. Investments (continued)



For the Year Ended December 31, 2015	Gross gains		Gross losses			Net
AFS fixed maturities	$	2,849	$	(543	)	$	2,306
Other investments	192		—			192
Net realized gains on investment	$	3,041	$	(543	)	$	2,498



For the Year Ended December 31, 2014	Gross gains		Gross losses			Net
AFS fixed maturities	$	1,334	$	(610	)	$	724
Other investments	439		—			439
Net realized gains on investment	$	1,773	$	(610	)	$	1,163

Net unrealized gains on available-for-sale securities and other investments

Net unrealized (losses) gains were as follows:



December 31,	2016			2015			2014
Fixed maturities	$	(23,635	)	$	(55,024	)	$	77,040
Other investments	3,003			996			1,709
Total net unrealized (losses) gains	(20,632		)	(54,028		)	78,749
Deferred income tax	(84		)	(84		)	(170		)
Net unrealized (losses) gains, net of deferred income tax	$	(20,716	)	$	(54,112	)	$	78,579
Change, net of deferred income tax	$	33,396		$	(132,691	)	$	43,851

Fair value of restricted assets

The fair value of our restricted assets was as follows:



December 31,	2016		2015
Restricted cash – third party agreements	$	56,891	$	102,837
Restricted cash – related party agreements	46,777		139,944
Restricted cash – U.S. state regulatory authorities	120		78
Total restricted cash	103,788		242,859
Restricted investments – in trust for third party agreements at fair value (Amortized cost: 2016 – $1,307,926; 2015 – $1,081,202)	1,299,569		1,067,602
Restricted investments AFS– in trust for related party agreements at fair value (Amortized cost: 2016 – $2,242,565; 2015 – $1,781,178)	2,225,066		1,754,705
Restricted investments HTM– in trust for related party agreements at fair value (Amortized cost: 2016 – $752,212; 2015 – $607,843)	766,135		598,975
Restricted investments – in trust for U.S. state regulatory authorities (Amortized cost: 2016 – $4,059; 2015 – $4,071)	4,238		4,303
Total restricted investments	4,295,008		3,425,585
Total restricted cash and investments	$	4,398,796	$	3,668,444

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair value hierarchy of financial assets and financial liabilities measured on a recurring basis

At December 31, 2016 and 2015, we classified our financial instruments measured at fair value on a recurring basis in the following valuation hierarchy:



December 31, 2016	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	5,413		$	—		$	—		$	5,413
U.S. agency bonds – mortgage-backed	—			1,716,038			—			1,716,038
U.S. agency bonds – other	—			18,102			—			18,102
Non-U.S. government and supranational bonds	—			29,934			—			29,934
Asset-backed securities	—			220,876			—			220,876
Corporate bonds	—			1,916,205			—			1,916,205
Municipal bonds	—			65,098			—			65,098
Other investments	6,586			—			6,474			13,060
Total	$	11,999		$	3,966,253		$	6,474		$	3,984,726
As a percentage of total assets	0.2		%	63.4		%	0.1		%	63.7		%



December 31, 2015	Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
AFS fixed maturities
U.S. treasury bonds	$	6,010		$	—		$	—		$	6,010
U.S. agency bonds – mortgage-backed	—			1,476,991			—			1,476,991
U.S. agency bonds – other	—			24,311			—			24,311
Non-U.S. government and supranational bonds	—			30,544			—			30,544
Asset-backed securities	—			165,804			—			165,804
Corporate bonds	—			1,739,668			—			1,739,668
Municipal bonds	—			64,760			—			64,760
Other investments	4,905			—			6,907			11,812
Total	$	10,915		$	3,502,078		$	6,907		$	3,519,900
As a percentage of total assets	0.2		%	61.4		%	0.1		%	61.7		%

Changes in Level 3 for financial instruments measured at fair value on a recurring basis

The following table presents changes in Level 3 of our financial instruments measured at fair value on a recurring basis for the years ended December 31, 2016 and 2015:



	For the Year Ended December 31,
Other investments:	2016			2015
Balance at beginning of period	$	6,907		$	6,581
Total realized gains – included in net realized gains on investment	448			192
Total realized losses – included in net realized gains on investment	—			—
Change in total unrealized gains – included in other comprehensive income (loss)	78			373
Change in total unrealized losses – included in other comprehensive income (loss)	—			—
Purchases	172			217
Sales and redemptions	(1,131		)	(456		)
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Balance at end of period	$	6,474		$	6,907
Level 3 gains included in net income attributable to the change in unrealized gains relating to assets held at the reporting date	$	—		$	—

Carrying values of financial instruments not measured at fair value

The following table presents the fair value and carrying value of the financial instruments not measured at fair value:



	December 31, 2016				December 31, 2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
HTM – corporate bonds	$	752,212	$	766,135	$	607,843	$	598,975
Total financial assets	$	752,212	$	766,135	$	607,843	$	598,975

Financial Liabilities
MHLA – 6.625%	$	110,000	$	111,452	$	—	$	—
MHNC – 7.75%	152,500		164,700		152,500		165,456
MHNB – 8.00%	100,000		101,600		100,000		105,328
MHNA – 8.25%	—		—		107,500		110,424
Total financial liabilities	$	362,500	$	377,752	$	360,000	$	381,208

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill and intangible assets

The following tables show the analysis of goodwill and intangible assets:



	Goodwill			Intangible Assets			Total
December 31, 2014	$	58,312		$	29,024		$	87,336
Acquired during the year	1,800			—			1,800
Disposed during the year	(1,120		)	(3,200		)	(4,320		)
Cumulative translation adjustment	(56		)	—			(56		)
Amortization	—			(2,840		)	(2,840		)
December 31, 2015	$	58,936		$	22,984		$	81,920
Cumulative translation adjustment	56			—			56
Amortization	—			(2,461		)	(2,461		)
Impairment losses	(1,800		)	—			(1,800		)
December 31, 2016	$	57,192		$	20,523		$	77,715

Goodwill and intangible assets



December 31, 2016	Gross		Accumulated Amortization			Accumulated Impairment			Net		Useful Life
Goodwill	$	58,992	$	—		$	(1,800	)	$	57,192	Indefinite
State licenses	4,527		—			—			4,527		Indefinite
Customer relationships	51,400		(35,404		)	—			15,996		15 years double declining
Net balance	$	114,919	$	(35,404	)	$	(1,800	)	$	77,715



December 31, 2015	Gross		Accumulated Amortization			Net		Useful Life
Goodwill	$	58,936	$	—		$	58,936	Indefinite
State licenses	4,527		—			4,527		Indefinite
Customer relationships	51,400		(32,943		)	18,457		15 years double declining
Net balance	$	114,863	$	(32,943	)	$	81,920

Estimated amortization expenses for the next five years

The estimated amortization of intangible assets for the next five years is as follows:



2017	$	2,133
2018	1,848
2019	1,602
2020	1,388
2021	1,203

Long-Term Debt Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Senior Note Issuances

The following table details the Company's Senior Notes issuances as of December 31, 2016 and 2015:



December 31, 2016	2016 Senior Notes			2013 Senior Notes			2012 Senior Notes			2011 Senior Notes			Total
Principal amount	$	110,000		$	152,500		$	100,000		$	—		$	362,500
Less: unamortized issuance costs	3,694			4,532			2,865			—			11,091
Carrying value	$	106,306		$	147,968		$	97,135		$	—		$	351,409

December 31, 2015	2016 Senior Notes			2013 Senior Notes			2012 Senior Notes			2011 Senior Notes			Total
Principal amount	$	—		$	152,500		$	100,000		107,500			$	360,000
Less: unamortized issuance costs	—			4,701			2,979			2,387			10,067
Carrying value	$	—		$	147,799		$	97,021		$	105,113		$	349,933


Other details:
Original debt issuance costs	$	3,715		$	5,054		$	3,406		$	2,811
Maturity date	June 14, 2046			Dec 1, 2043			Mar 27, 2042			June 15, 2041
Earliest redeemable date (for cash)	June 14, 2021			Dec 1, 2018			Mar 27, 2017			June 15, 2016
Coupon rate	6.625		%	7.75		%	8.00		%	8.25		%
Effective interest rate	7.07		%	8.04		%	8.31		%	8.47		%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2016

Reinsurance Disclosures [Abstract]

Schedule of effects of reinsurance on premiums written and earned and liability for claims and claims adjustment expense

The effect of ceded reinsurance on net premiums written and earned and on net loss and LAE for the years ended December 31, 2016, 2015 and 2014 was as follows:



For the Year Ended December 31,	2016			2015			2014
Premiums written
Direct	$	8,045		$	9,160		$	48,565
Assumed	2,823,303			2,653,666			2,458,787
Ceded	(176,396		)	(148,710		)	(49,216		)
Net	$	2,654,952		$	2,514,116		$	2,458,136
Premiums earned
Direct	$	9,766		$	26,358		$	70,807
Assumed	2,698,879			2,481,515			2,253,750
Ceded	(140,495		)	(78,804		)	(72,814		)
Net	$	2,568,150		$	2,429,069		$	2,251,743
Loss and LAE
Gross loss and LAE	$	1,918,797		$	1,687,564		$	1,592,795
Loss and LAE ceded	(98,891		)	(53,994		)	(94,524		)
Net	$	1,819,906		$	1,633,570		$	1,498,271

Reserve for Loss and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2016

Insurance [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

Our reserve for loss and LAE comprises:



December 31,	2016		2015
Reserve for reported loss and LAE	$	1,617,956	$	1,411,712
Reserve for losses incurred but not reported ("IBNR")	1,278,540		1,098,389
Reserve for loss and LAE	$	2,896,496	$	2,510,101

The following table represents a reconciliation of our beginning and ending gross and net loss and LAE reserves:



For the Year Ended December 31,	2016			2015			2014
Gross loss and LAE reserves, January 1	$	2,510,101		$	2,271,292		$	1,957,835
Less: reinsurance recoverable on unpaid losses, January 1	71,248			75,873			84,036
Net loss and LAE reserves, January 1	2,438,853			2,195,419			1,873,799
Net incurred losses related to:
Current year	1,600,454			1,558,704			1,479,425
Prior years	219,452			74,866			18,846
	1,819,906			1,633,570			1,498,271
Net paid losses related to:
Current year	(430,707		)	(457,517		)	(430,394		)
Prior years	(1,006,884		)	(892,840		)	(705,397		)
	(1,437,591		)	(1,350,357		)	(1,135,791		)
Effect of foreign exchange movements	(24,608		)	(39,779		)	(40,860		)
Net loss and LAE reserves, December 31	2,796,560			2,438,853			2,195,419
Reinsurance recoverable on unpaid losses, December 31	99,936			71,248			75,873
Gross loss and LAE reserves, December 31	$	2,896,496		$	2,510,101		$	2,271,292

Schedule of incurred losses and LAE and cumulative paid losses and LAE



Diversified Reinsurance	Incurred losses and LAE, net of reinsurance												At December 31, 2016
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		Total IBNR
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007 and prior	$	570,859	$	563,762	$	552,718	$	546,160	$	552,342	$	556,561	$	7,626
2008	207,118		188,325		180,972		179,100		180,624		180,957		17,681
2009	376,766		370,940		362,134		366,680		367,492		367,738		15,767
2010	519,644		517,885		559,628		591,836		583,788		590,871		13,207
2011	475,042		500,027		480,265		497,245		499,809		503,011		16,595
2012			549,587		527,380		547,331		551,957		561,003		21,098
2013					531,167		454,637		516,728		537,057		38,675
2014							583,353		565,198		596,039		79,168
2015									493,518		513,791		112,954
2016											481,086		217,631
Total											$	4,888,114	$	540,402

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007 and prior	349,690		394,639		432,821		452,716		470,930		476,064
2008	111,589		126,265		135,439		140,884		147,568		157,420
2009	225,940		252,388		264,246		274,120		283,705		292,088
2010	336,181		422,063		479,840		511,819		536,759		551,702
2011	168,075		326,995		387,380		427,817		445,476		459,451
2012			201,871		351,247		420,709		453,673		483,631
2013					192,601		334,452		408,651		453,911
2014							197,964		377,434		457,165
2015									180,698		331,595
2016											175,451
Total											3,838,478
Total net reserves											$	1,049,636



AmTrust Reinsurance			Incurred losses and LAE, net of reinsurance										At December 31, 2016
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016		Total IBNR
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007	$	67,836	$	67,204	$	67,048	$	70,531	$	71,857	$	72,947	$	18
2008	225,656		224,460		224,667		238,357		242,624		246,009		1,445
2009	226,650		238,131		248,792		249,583		252,686		257,829		1,981
2010	279,228		285,118		295,502		302,721		309,161		329,971		3,176
2011	342,577		352,187		367,915		390,325		401,861		406,203		(3,564		)
2012			473,294		450,770		480,984		482,833		497,132		(30,776		)
2013					648,071		576,404		576,524		611,617		(10,187		)
2014							854,667		838,549		844,465		53,727
2015									1,033,505		1,031,258		141,662
2016											1,117,722		518,454
Total											$	5,415,153	$	675,936

	Cumulative paid losses and LAE, net of reinsurance
For the Year Ended December 31,	2011		2012		2013		2014		2015		2016
Accident Year:	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
2007	$	64,128	$	65,545	$	67,639	$	70,246	$	70,109	$	71,414
2008	194,344		210,319		219,088		231,095		231,399		234,499
2009	192,446		220,376		232,478		232,364		236,632		242,516
2010	194,566		227,598		252,841		288,261		296,332		312,743
2011	161,926		235,792		278,150		328,710		363,457		373,974
2012			150,495		235,473		354,717		409,910		453,428
2013					213,499		323,134		432,396		504,964
2014							213,565		479,119		610,327
2015									284,147		630,914
2016											255,579
Total											3,690,358
Total net reserves											$	1,724,795

Reconciliation of claims development to liability

The following table represents a reconciliation of the net incurred and paid claims development tables to the reserve for loss and LAE in the Consolidated Balance Sheet:



	As at December 31, 2016
	Total Net Reserves		Reinsurance Recoverables on unpaid claims		Total Gross Reserves

Diversified Reinsurance	$	1,049,636	$	54,299	$	1,103,935
AmTrust Reinsurance	1,724,795		32,933		1,757,728
Other	22,129		12,704		34,833
Total claims reserves	$	2,796,560	$	99,936	$	2,896,496

Schedule of average annual payout of net loss and LAE



	Average annual payout of incurred claims by age, net of reinsurance
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6
Diversified Reinsurance	35.9	%	30.9	%	9.7	%	5.6	%	2.5	%	2.8	%
AmTrust Reinsurance	28.4	%	28.0	%	14.7	%	10.3	%	7.7	%	1.4	%

Commitments, Contingencies and Concentrations (Tables)

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease payments under non-cancellable operating leases

Future minimum lease payments at December 31, 2016 under non-cancellable operating leases for the next five years are approximately as follows:



	December 31, 2016
2017	$	1,366
2018	597
2019	495
2020	337
2021	—
	$	2,795

Schedule of dividends payable

On November 1, 2016, the Company's Board of Directors authorized the following quarterly dividend:

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Summary of elements used in calculating basic and diluted earnings per common share

The following is a summary of the elements used in calculating basic and diluted earnings per common share:



For the Year Ended December 31,	2016			2015			2014
Numerator:
Net income attributable to Maiden	$	48,980		$	124,476		$	101,391
Dividends on preference shares – Series A	(12,375		)	(12,375		)	(12,375		)
Dividends on convertible preference shares – Series B	(8,971		)	(11,962		)	(11,962		)
Dividends on preferences shares – Series C	(12,410		)	—			—
Amount allocated to participating common shareholders⁽¹⁾	(7		)	(52		)	(94		)
Numerator for basic EPS - net income allocated to Maiden common shareholders	15,217			100,087			76,960
Potentially dilutive securities:
Dividends on convertible preference shares – Series B⁽²⁾	—			11,962			—
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion	$	15,217		$	112,049		$	76,960
Denominator:
Weighted average number of common shares – basic	77,534,860			73,478,544			72,843,782
Potentially dilutive securities:
Share options and restricted share units	1,152,083			1,319,074			1,273,786
Convertible preference shares⁽²⁾	—			10,840,617			—
Adjusted weighted average number of common shares and assumed conversions – diluted	78,686,943			85,638,235			74,117,568
Basic earnings per share attributable to Maiden common shareholders:	$	0.20		$	1.36		$	1.06
Diluted earnings per share attributable to Maiden common shareholders:	$	0.19		$	1.31		$	1.04


(1)	This represents earnings allocated to the holders of non-vested restricted shares issued to the Company's employees under the 2007 Share Incentive Plan.

(2)

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Summary of changes in common shares issued and outstanding

The following table shows the summary of changes in the Company's common shares outstanding:



For the Year Ended December 31,	2016		2015		2014
Outstanding shares – January 1	73,721,140		72,932,702		72,633,561
Mandatory conversion of preference shares – Series B	12,069,090		—		—
Issuance of vested restricted shares and restricted share units	251,027		378,120		184,396
Shares repurchased⁽¹⁾	(35,258	)	(46,458	)	(5,851	)
Exercise of options	265,110		456,776		120,596
Outstanding shares – December 31	86,271,109		73,721,140		72,932,702


(1)	Shares repurchased were withholdings from employees in respect of tax obligations arising from the vesting of restricted shares and performance based shares. See further details below in item (e).

Amounts reclassified from accumulated other comprehensive income

The following table presents details about amounts reclassified from AOCI:



Details about AOCI Components	Consolidated Statements of Income Line Item that Includes Reclassification	For the Year Ended December 31,
Unrealized (losses) gains on AFS securities		2016			2015		2014
	Net realized (losses) gains on investment	$	(576	)	$	263	$	(3,160	)
	Net impairment losses recognized in earnings	—			—		(102		)
	Total before tax	(576		)	263		(3,262		)
	Income tax expense	—			—		(16		)
	Total after tax	$	(576	)	$	263	$	(3,278	)

Schedule of accumulated other comprehensive income

The following tables set forth financial information regarding the changes in the balances of each component of AOCI for the years ended December 31, 2016, 2015 and 2014:



For the Year Ended December 31, 2016	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	(54,112	)	$	30,231		$	(23,881	)
Other comprehensive income before reclassifications	32,820			5,373			38,193
Amounts reclassified from AOCI to net income, net of tax	576			—			576
Net current period other comprehensive income	33,396			5,373			38,769
Ending balance	(20,716		)	35,604			14,888
Less: AOCI attributable to noncontrolling interest	—			(109		)	(109		)
Ending balance, Maiden shareholders	$	(20,716	)	$	35,713		$	14,997



For the Year Ended December 31, 2015	Change in net unrealized gains on investment			Foreign currency translation adjustments			Total
Beginning balance	$	78,579		$	16,665		$	95,244
Other comprehensive income before reclassifications	(132,428		)	13,566			(118,862		)
Amounts reclassified from AOCI to net income, net of tax	(263		)	—			(263		)
Net current period other comprehensive (loss) income	(132,691		)	13,566			(119,125		)
Ending balance	(54,112		)	30,231			(23,881		)
Less: AOCI attributable to noncontrolling interest	—			(114		)	(114		)
Ending balance, Maiden shareholders	$	(54,112	)	$	30,345		$	(23,767	)



For the Year Ended December 31, 2014	Change in net unrealized gains on investment		Foreign currency translation adjustments			Total
Beginning balance	$	34,728	$	(8,927	)	$	25,801
Other comprehensive loss before reclassifications	40,573		25,592			66,165
Amounts reclassified from AOCI to net income, net of tax	3,278		—			3,278
Net current period other comprehensive income	43,851		25,592			69,443
Ending balance	78,579		16,665			95,244
Less: AOCI attributable to noncontrolling interest	—		(49		)	(49		)
Ending balance, Maiden shareholders	$	78,579	$	16,714		$	95,293

Share Compensation and Pension Plans (Tables)

12 Months Ended

Dec. 31, 2016

Share-based Compensation [Abstract]

Key assumptions used in determining the fair value of options granted

The key assumptions used in determining the fair value of options granted in 2016, 2015 and 2014 and a summary of the methodology applied to develop each assumption were as follows:



	2016		2015		2014
Assumptions:
Volatility	28.70	%	37.60	%	51.40	%
Risk-free interest rate	1.67	%	1.55	%	1.77	%
Weighted average expected lives in years	5.5 years		5.5 years		6.1 years
Forfeiture rate	1.66	%	2.16	%	3.45	%
Dividend yield rate	3.55	%	4.05	%	3.46	%

Schedule of all options granted, exercised, expired and forfeited under the Plan

The following table shows all options granted, exercised, expired and exchanged under the Plan for the years ended December 31, 2016, 2015 and 2014:



	Number of Share Options		Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value		Range of Exercise Prices
Outstanding, December 31, 2013	2,439,413		$	6.76			5.75 years	$	10,174	$3.28 - $11.22
Granted	45,000		$	12.01	$	4.28				$11.38 - $12.42
Exercised	(120,596	)	$	4.91				$	930
Forfeited	(842	)	$	7.74
Outstanding, December 31, 2014	2,362,975		$	6.95			4.86 years	$	13,791	$3.28 - $12.42
Granted	24,000		$	13.98	$	3.31				$13.98
Exercised	(456,776	)	$	7.27				$	3,521
Expired	(3,442	)	$	8.61
Forfeited	(558	)	$	9.00
Outstanding, December 31, 2015	1,926,199		$	6.96			4.15 years	$	15,306	$3.28 - $13.98
Granted	24,000		$	13.12	$	2.45				$13.12
Exercised	(265,110	)	$	7.28				$	1,453
Expired	(1,000	)	$	7.67
Outstanding, December 31, 2016	1,684,089		$	7.00			3.36 years	$	17,598	$3.28 - $13.98
Total exercisable at December 31, 2016	1,650,027		$	6.88			3.22 years	$	17,433	$3.28 - $13.98

Schedule of based compensation instrument granted, other than share options

The following schedule shows the summary of activity under the Company's restricted awards:



	CEO Non-Performance-Based Restricted Share Units				Non-CEO Non-Performance-Based Restricted Shares				Performance Based Restricted Share Units⁽¹⁾
	Number of Restricted Units		Weighted Average Grant-Date Fair Value		Number of Restricted Shares		Weighted Average Grant-Date Fair Value		Number of Restricted Units		Weighted Average Grant-Date Fair Value
Non-vested December 31, 2013	149,701		$	10.02	95,590		$	10.02	753,862		$	9.21
Awards granted	70,298		$	11.38	38,522		$	11.38	396,672		$	11.38
Awards vested	(73,333	)	$	10.45	(47,795	)	$	10.02	(100,308	)	$	8.56
Awards forfeited	—		$	—	—		$	—	(242,456	)	$	8.56
Non-vested at December 31, 2014	146,666		$	10.45	86,317		$	10.63	807,770		$	10.51
Awards granted	64,795		$	13.89	38,180		$	13.94	291,730		$	13.89
Awards vested	(73,333	)	$	10.45	(67,061	)	$	10.41	(188,681	)	$	9.54
Awards forfeited	—		$	—	(4,284	)	$	11.38	(165,337	)	$	10.61
Non-vested at December 31, 2015	138,128		$	12.07	53,152		$	13.22	745,482		$	12.05
Awards granted	75,988		$	13.16	23,000		$	12.90	355,544		$	13.11
Awards vested	(94,931	)	$	11.24	(29,949	)	$	12.67	(85,847	)	$	12.29
Awards forfeited	—		$	—	—		$	—	(169,458	)	$	10.02
Non-vested at December 31, 2016	119,185		$	13.42	46,203		$	13.42	845,721		$	12.88

Statutory Requirements and Dividend Restrictions (Tables)

12 Months Ended

Dec. 31, 2016

Statutory Financial Information [Abstract]

Statutory and U.S. GAAP equity and net income of insurance and reinsurance subsidiaries

The combined statutory capital and combined statutory net income (loss) of our principal operating subsidiaries in their respective jurisdictions were as follows:



	Maiden Bermuda		Maiden US			Maiden LF
Statutory Capital and Surplus
December 31, 2016	$	1,470,206	$	296,550		$	8,101
December 31, 2015	1,813,766		294,338			7,621

Statutory Net Income (Loss)
For the Year Ended December 31, 2016	$	87,888	$	(3,926	)	$	756
For the Year Ended December 31, 2015	146,027		17,439			(199		)
For the Year Ended December 31, 2014	60,016		16,614			651

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Taxation (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of income before taxes and income tax expense

Income before taxes and income tax expense for the years ended December 31, 2016, 2015 and 2014 was as follows:



For the Year Ended December 31,	2016			2015			2014
Income before income taxes – Domestic (Bermuda)	$	67,881		$	134,012		$	117,780
Loss before income taxes – Foreign (U.S. and others)	(18,169		)	(7,690		)	(14,083		)
Total income before income taxes	$	49,712		$	126,322		$	103,697

Current tax expense – Domestic (Bermuda)	$	—		$	—		$	—
Current tax expense – Foreign (U.S. and others)	490			780			945
Total current tax expense	490			780			945

Deferred tax expense – Domestic (Bermuda)	—			—			—
Deferred tax expense – Foreign (U.S. and others)	1,084			1,258			1,219
Total deferred tax expense	1,084			1,258			1,219

Total income tax expense	$	1,574		$	2,038		$	2,164

Schedule of effective income tax rate reconciliation



For the Year Ended December 31,	2016			2015			2014
Income before income taxes	$	49,712		$	126,322		$	103,697
Income tax expense	1,574			2,038			2,164
Net income	$	48,138		$	124,284		$	101,533
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate	—		%	—		%	—		%
U.S. taxes at statutory rates	(10.8		)%	(2.2		)%	(7.3		)%
Valuation allowance in respect of U.S. taxes	13.2		%	3.2		%	8.5		%
Other jurisdictions	0.8		%	0.6		%	0.9		%
Actual tax rate	3.2		%	1.6		%	2.1		%

Schedule of deferred tax assets and liabilities

The significant components of our deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows:



December 31,	2016		2015
Deferred tax assets:
Net operating losses	$	63,143	$	60,147
Unearned premiums	11,336		9,459
Discounting of net loss and LAE reserves	12,091		11,756
Net unrealized losses on investments	—		4,374
Accruals not currently deductible	160		109
Amortization of intangibles	2,439		2,796
OTTI	1,198		1,198
Others	3,289		543
Deferred tax assets before valuation allowance	93,656		90,382
Valuation allowance	78,300		78,845
Deferred tax assets, net	15,356		11,537
Deferred tax liabilities:
Deferred commission and other acquisition expenses	11,826		10,664
Indefinite lived intangible	1,750		1,750
Amortization of goodwill	9,480		8,319
Net unrealized gains on investment	2,713		—
Others	730		866
Deferred tax liabilities	26,499		21,599
Net deferred tax liability	$	11,143	$	10,062

Subsequent Events (Tables)

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

Schedule of subsequent events

On February 21, 2017, the Company's Board of Directors authorized the following quarterly dividends:



	Dividend per Share		Payable on:	Record date:
Common shares	$	0.15	April 17, 2017	April 3, 2017
Preference shares – Series A	$	0.515625	March 15, 2017	March 1, 2017
Preference shares – Series C	$	0.445313	March 15, 2017	March 1, 2017

Condensed Quarterly Financial Data - Unaudited (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial data

The following tables summarize our quarterly financial data:



2016 Quarters Ended	March 31		June 30		September 30		December 31⁽¹⁾
Total revenues	$	659,414	$	674,746	$	738,189	$	659,284
Net income (loss)	36,829		39,887		40,796		(69,374		)
Net income (loss) attributable to Maiden common shareholders	27,216		30,910		31,829		(74,731		)
Comprehensive income (loss) – attributable to Maiden	130,130		89,389		45,802		(177,577		)
Basic earnings (loss) per common share attributable to Maiden common shareholders⁽²⁾	$	0.37	$	0.42	$	0.42	$	(0.87	)
Diluted earnings (loss) per common share attributable to Maiden common shareholders⁽²⁾	$	0.35	$	0.39	$	0.40	$	(0.87	)



2015 Quarters Ended	March 31		June 30			September 30		December 31
Total revenues	$	611,427	$	647,071		$	693,696	$	620,917
Net income	38,534		26,511			28,515		30,724
Net income attributable to Maiden common shareholders	32,405		20,519			22,499		24,716
Comprehensive income (loss) – attributable to Maiden	50,694		(39,962		)	10,658		(15,974		)
Basic earnings per common share attributable to Maiden common shareholders	$	0.44	$	0.28		$	0.31	$	0.34
Diluted earnings per common share attributable to Maiden common shareholders	$	0.41	$	0.27		$	0.30	$	0.32

(1)

During the fourth quarter of 2016, following the receipt of updated information during the Company's reserving process and in response to a very challenging commercial auto market, the Company increased the reserve for loss and LAE in both our Diversified Reinsurance and AmTrust Reinsurance segments as well as our NGHC run-off business. The Company recorded unfavorable reserve development which reduced its net income, net income attributable to Maiden common shareholders and comprehensive income during the three months ended December 31, 2016 by approximately $120,426 or $1.40 per basic common share and $1.39 per diluted common share.


(2)	Basic earnings (loss) per common share attributable to Maiden common shareholders and diluted earnings (loss) per common share attributable to Maiden common shareholders is calculated as a function of average shares issued, or dilutive, during the respective period.

Significant Accounting Policies (Details) - USD ($)	3 Months Ended	12 Months Ended
Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Unfavorable reserve development	$ 120,426,000
Earnings per common share, basic, reduction from unfavorable reserve development (in dollar per share)	$ 1.40	$ 1.55
Earnings per common share, diluted, reduction from unfavorable reserve development (in dollar per share)	$ 1.39	$ 1.48
Short-term investments	$ 0	$ 0	$ 0
Deposit contracts	0	0	0
Accumulated foreign currency translation adjustment	35,713,000	35,713,000	30,345,000
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs	$ 11,091,000	$ 11,091,000	10,067,000
Total assets \| ASU 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs			(10,067,000)
Total liabilities \| ASU 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unamortized debt issuance costs			$ 10,067,000

Segment Information - Net Income (Loss) and Total Assets (Details) $ in Thousands		3 Months Ended								12 Months Ended
	Jun. 15, 2016 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2016 USD ($) Segment	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment										2
Income Statement [Abstract]
Gross premiums written										$ 2,831,348	$ 2,662,825	$ 2,507,352
Net premiums written										2,654,952	2,514,116	2,458,136
Net premiums earned										2,568,150	2,429,069	2,251,743
Other insurance revenue										10,817	11,512	13,410
Net loss and LAE										(1,819,906)	(1,633,570)	(1,498,271)
Commission and other acquisition expenses										(773,664)	(724,197)	(659,315)
General and administrative expenses										(38,577)	(38,328)	(42,148)
Underwriting (loss) income										(53,180)	44,486	65,419
Reconciliation to net income
Net investment income and realized gains on investment										152,666	133,590	118,378
Net impairment losses recognized in earnings										0	(1,060)	(2,364)
Interest and amortization expenses										(28,173)	(29,063)	(29,959)
Accelerated amortization of senior note issuance cost	$ (2,345)									(2,345)	0	(28,240)
Amortization of intangible assets										(2,461)	(2,840)	(3,277)
Foreign exchange and other gains, net										11,612	7,753	4,150
Other general and administrative expenses										(28,407)	(26,544)	(20,410)
Income tax expense										(1,574)	(2,038)	(2,164)
Net income		$ (69,374)	$ 40,796	$ 39,887	$ 36,829	$ 30,724	$ 28,515	$ 26,511	$ 38,534	$ 48,138	$ 124,284	$ 101,533
Net loss and LAE ratio										70.60%	66.90%	66.10%
Commission and other acquisition expense ratio										30.00%	29.70%	29.10%
General and administrative expense ratio										2.60%	2.70%	2.80%
Combined ratio										103.20%	99.30%	98.00%
Assets [Abstract]
Reinsurance balance receivable, net		410,166				377,318				$ 410,166	$ 377,318
Reinsurance recoverable on unpaid losses		99,936				71,248				99,936	71,248	$ 75,873	$ 84,036
Deferred commissions and other acquisition expenses		424,605				397,548				424,605	397,548
Loan to related party		167,975				167,975				167,975	167,975
Goodwill and intangible assets, net		77,715				81,920				77,715	81,920	87,336
Restricted cash and cash equivalents and investments		4,398,796				3,668,444				4,398,796	3,668,444
Other assets		148,912				115,038				148,912	115,038
Total assets		6,252,299				5,703,578				6,252,299	5,703,578
AmTrust Reinsurance segment
Income Statement [Abstract]
Gross premiums written										2,006,646	1,885,974	1,610,485
Operating Segments
Assets [Abstract]
Reinsurance balance receivable, net		400,224				367,809				400,224	367,809
Reinsurance recoverable on unpaid losses		87,232				52,620				87,232	52,620
Deferred commissions and other acquisition expenses		424,605				397,548				424,605	397,548
Loan to related party		167,975				167,975				167,975	167,975
Goodwill and intangible assets, net		77,715				81,920				77,715	81,920
Restricted cash and cash equivalents and investments		4,385,603				3,646,765				4,385,603	3,646,765
Other assets		144,033				108,763				144,033	108,763
Total assets - reportable segments		5,687,387				4,823,400				5,687,387	4,823,400
Corporate assets		564,912				880,178				564,912	880,178
Total assets		6,252,299				5,703,578				6,252,299	5,703,578
Operating Segments \| Diversified Reinsurance segment
Income Statement [Abstract]
Gross premiums written										824,341	776,852	897,748
Net premiums written										766,119	734,781	850,049
Net premiums earned										724,124	744,875	854,026
Other insurance revenue										10,817	11,512	13,410
Net loss and LAE										(579,520)	(547,296)	(579,771)
Commission and other acquisition expenses										(188,506)	(196,292)	(233,711)
General and administrative expenses										(35,681)	(35,312)	(38,858)
Underwriting (loss) income										$ (68,766)	$ (22,513)	$ 15,096
Reconciliation to net income
Net loss and LAE ratio										78.90%	72.30%	66.80%
Commission and other acquisition expense ratio										25.60%	26.00%	26.90%
General and administrative expense ratio										4.90%	4.70%	4.60%
Combined ratio										109.40%	103.00%	98.30%
Assets [Abstract]
Reinsurance balance receivable, net		281,073				230,223				$ 281,073	$ 230,223
Reinsurance recoverable on unpaid losses		54,299				38,390				54,299	38,390
Deferred commissions and other acquisition expenses		85,432				80,012				85,432	80,012
Loan to related party		0				0				0	0
Goodwill and intangible assets, net		77,715				81,920				77,715	81,920
Restricted cash and cash equivalents and investments		1,364,844				1,178,076				1,364,844	1,178,076
Other assets		41,008				35,920				41,008	35,920
Total assets - reportable segments		1,904,371				1,644,541				1,904,371	1,644,541
Operating Segments \| AmTrust Reinsurance segment
Income Statement [Abstract]
Gross premiums written										2,006,646	1,885,974	$ 1,610,485
Net premiums written										1,888,428	1,779,334	1,610,485
Net premiums earned										1,843,621	1,684,191	1,378,327
Other insurance revenue										0	0	0
Net loss and LAE										(1,225,830)	(1,074,072)	(893,502)
Commission and other acquisition expenses										(584,820)	(527,863)	(418,908)
General and administrative expenses										(2,896)	(3,016)	(2,533)
Underwriting (loss) income										$ 30,075	$ 79,240	$ 63,384
Reconciliation to net income
Net loss and LAE ratio										66.50%	63.80%	64.80%
Commission and other acquisition expense ratio										31.70%	31.30%	30.40%
General and administrative expense ratio										0.20%	0.20%	0.20%
Combined ratio										98.40%	95.30%	95.40%
Assets [Abstract]
Reinsurance balance receivable, net		119,151				137,586				$ 119,151	$ 137,586
Reinsurance recoverable on unpaid losses		32,933				14,230				32,933	14,230
Deferred commissions and other acquisition expenses		339,173				317,536				339,173	317,536
Loan to related party		167,975				167,975				167,975	167,975
Goodwill and intangible assets, net		0				0				0	0
Restricted cash and cash equivalents and investments		3,020,759				2,468,689				3,020,759	2,468,689
Other assets		103,025				72,843				103,025	72,843
Total assets - reportable segments		$ 3,783,016				$ 3,178,859				3,783,016	3,178,859
Other
Income Statement [Abstract]
Gross premiums written										361	(1)	$ (881)
Net premiums written										405	1	(2,398)
Net premiums earned										405	3	19,390
Other insurance revenue										0	0	0
Net loss and LAE										(14,556)	(12,202)	(24,998)
Commission and other acquisition expenses										(338)	(42)	(6,696)
General and administrative expenses										0	0	(757)
Underwriting (loss) income										$ (14,489)	$ (12,241)	$ (13,061)

Segment Information - Net Premiums (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 2,831,348	$ 2,662,825	$ 2,507,352
Net premiums written	2,654,952	2,514,116	2,458,136
Net premiums earned	$ 2,568,150	$ 2,429,069	$ 2,251,743
% of Total Net premiums written	100.00%	100.00%	100.00%
% of Total Net premiums earned	100.00%	100.00%	100.00%
AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 2,006,646	$ 1,885,974	$ 1,610,485
North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	2,442,483	2,165,309	1,979,768
Net premiums written	2,280,232	2,038,444	1,934,644
Net premiums earned	2,184,184	2,027,141	1,778,579
Other (predominantly Europe)
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	388,865	497,516	527,584
Net premiums written	374,720	475,672	523,492
Net premiums earned	383,966	401,928	473,164
Operating Segments \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	824,341	776,852	897,748
Net premiums written	766,119	734,781	850,049
Net premiums earned	$ 724,124	$ 744,875	$ 854,026
% of Total Net premiums written	28.90%	29.20%	34.60%
% of Total Net premiums earned	28.20%	30.70%	37.90%
Operating Segments \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 2,006,646	$ 1,885,974	$ 1,610,485
Net premiums written	1,888,428	1,779,334	1,610,485
Net premiums earned	$ 1,843,621	$ 1,684,191	$ 1,378,327
% of Total Net premiums written	71.10%	70.80%	65.50%
% of Total Net premiums earned	71.80%	69.30%	61.20%
Operating Segments \| Property \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 141,353	$ 160,939	$ 160,308
Net premiums earned	$ 136,629	$ 157,186	$ 174,785
% of Total Net premiums written	5.30%	6.40%	6.50%
% of Total Net premiums earned	5.30%	6.50%	7.70%
Operating Segments \| Casualty \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 466,089	$ 435,625	$ 535,518
Net premiums earned	$ 432,509	$ 449,000	$ 533,775
% of Total Net premiums written	17.60%	17.30%	21.80%
% of Total Net premiums earned	16.80%	18.50%	23.70%
Operating Segments \| Accident and Health \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 80,004	$ 64,102	$ 38,870
Net premiums earned	$ 74,204	$ 55,672	$ 39,918
% of Total Net premiums written	3.00%	2.60%	1.60%
% of Total Net premiums earned	2.90%	2.30%	1.80%
Operating Segments \| International \| Diversified Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 78,673	$ 74,115	$ 115,353
Net premiums earned	$ 80,782	$ 83,017	$ 105,548
% of Total Net premiums written	3.00%	2.90%	4.70%
% of Total Net premiums earned	3.20%	3.40%	4.70%
Operating Segments \| Small Commercial Business \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 1,181,496	$ 1,057,968	$ 857,576
Net premiums earned	$ 1,131,582	$ 984,333	$ 752,188
% of Total Net premiums written	44.50%	42.10%	34.90%
% of Total Net premiums earned	44.10%	40.50%	33.40%
Operating Segments \| Specialty Program \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 344,677	$ 332,416	$ 220,121
Net premiums earned	$ 337,396	$ 290,209	$ 175,286
% of Total Net premiums written	13.00%	13.20%	8.90%
% of Total Net premiums earned	13.10%	11.90%	7.80%
Operating Segments \| Specialty Risk and Extended Warranty \| AmTrust Reinsurance segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Net premiums written	$ 362,255	$ 388,950	$ 532,788
Net premiums earned	$ 374,643	$ 409,649	$ 450,853
% of Total Net premiums written	13.60%	15.50%	21.70%
% of Total Net premiums earned	14.60%	16.90%	20.00%
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Gross premiums written	$ 361	$ (1)	$ (881)
Net premiums written	405	1	(2,398)
Net premiums earned	$ 405	$ 3	$ 19,390
% of Total Net premiums written	0.00%	0.00%	(0.10%)
% of Total Net premiums earned	0.00%	0.00%	0.90%

Investments - Schedule of Investments Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Abstract]
Fair value of securities transferred from AFS to HTM	$ 155,538	$ 608,722
AFS Transferred to HTM securities, unrealized gain	15,770	244
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	4,005,642	3,562,864
Available-for-sale fixed maturities, Gross unrealized gains	50,759	58,115
Available-for-sale fixed maturities, Gross unrealized losses	(84,735)	(112,891)
Available-for-sale fixed maturities, Fair value	3,971,666	3,508,088
HTM Fixed maturities, Original or amortized cost	752,212	607,843
HTM securities, Gross unrealized gains	16,370	3,458
HTM securities, Gross unrealized losses	(2,447)	(12,326)
HTM securities, Fair value	766,135	598,975
Other Investments, Original or amortized cost	10,057	10,816
Other investments, Gross unrealized gains	3,003	1,091
Other investments, Gross unrealized losses	0	(95)
Other investments, Fair value	13,060	11,812
Total investments, Original or amortized cost	4,767,911	4,181,523
Total investments, Gross unrealized gains	70,132	62,664
Total investments, Gross unrealized losses	(87,182)	(125,312)
Total investments, Fair value	4,750,861	4,118,875
U.S. treasury bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	5,186	5,714
Available-for-sale fixed maturities, Gross unrealized gains	238	312
Available-for-sale fixed maturities, Gross unrealized losses	(11)	(16)
Available-for-sale fixed maturities, Fair value	5,413	6,010
U.S. agency bonds – mortgage-backed
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	1,720,436	1,471,782
Available-for-sale fixed maturities, Gross unrealized gains	12,867	15,399
Available-for-sale fixed maturities, Gross unrealized losses	(17,265)	(10,190)
Available-for-sale fixed maturities, Fair value	1,716,038	1,476,991
U.S. agency bonds – other
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	18,082	23,734
Available-for-sale fixed maturities, Gross unrealized gains	20	577
Available-for-sale fixed maturities, Gross unrealized losses	0	0
Available-for-sale fixed maturities, Fair value	18,102	24,311
Non-U.S. government and supranational bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	35,158	35,128
Available-for-sale fixed maturities, Gross unrealized gains	73	0
Available-for-sale fixed maturities, Gross unrealized losses	(5,297)	(4,584)
Available-for-sale fixed maturities, Fair value	29,934	30,544
Asset-backed securities
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	217,232	165,719
Available-for-sale fixed maturities, Gross unrealized gains	3,713	1,174
Available-for-sale fixed maturities, Gross unrealized losses	(69)	(1,089)
Available-for-sale fixed maturities, Fair value	220,876	165,804
Corporate bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	1,947,347	1,798,610
Available-for-sale fixed maturities, Gross unrealized gains	30,951	38,070
Available-for-sale fixed maturities, Gross unrealized losses	(62,093)	(97,012)
Available-for-sale fixed maturities, Fair value	1,916,205	1,739,668
HTM Fixed maturities, Original or amortized cost	752,212	607,843
HTM securities, Gross unrealized gains	16,370	3,458
HTM securities, Gross unrealized losses	(2,447)	(12,326)
HTM securities, Fair value	766,135	598,975
Municipal bonds
Schedule of Investments [Line Items]
Available-for-sale fixed maturities, Original or amortized cost	62,201	62,177
Available-for-sale fixed maturities, Gross unrealized gains	2,897	2,583
Available-for-sale fixed maturities, Gross unrealized losses	0	0
Available-for-sale fixed maturities, Fair value	$ 65,098	$ 64,760

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Due in one year or less	$ 69,278
Due after one year through five years	578,034
Due after five years through ten years	1,378,403
Due after ten years	42,259
Total before securities with single maturities, Amortized cost	2,067,974
Available-for-sale fixed maturities, Original or amortized cost	4,005,642	$ 3,562,864
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Due in one year or less	61,219
Due after one year through five years	560,141
Due after five years through ten years	1,371,356
Due after ten years	42,036
Total before securities with single maturities, Fair value	2,034,752
Available-for-sale fixed maturities, Fair value	3,971,666	3,508,088
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]
Due in one year or less	0
Due after one year through five years	260,557
Due after five years through ten years	486,568
Due after ten years	5,087
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis	752,212
HTM securities, Amortized Cost	752,212
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value [Abstract]
Due in one year or less	0
Due after one year through five years	263,990
Due after five years through ten years	497,101
Due after ten years	5,044
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value	766,135
HTM securities, Fair value	766,135	598,975
U.S. agency bonds – mortgage-backed
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized cost of securities without single maturities	1,720,436
Available-for-sale fixed maturities, Original or amortized cost	1,720,436	1,471,782
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Fair value of securities without single maturities	1,716,038
Available-for-sale fixed maturities, Fair value	1,716,038	1,476,991
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Net Carrying Amount	0
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value [Abstract]
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Fair Value	0
Asset-backed securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized cost of securities without single maturities	217,232
Available-for-sale fixed maturities, Original or amortized cost	217,232	165,719
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Fair value of securities without single maturities	220,876
Available-for-sale fixed maturities, Fair value	220,876	$ 165,804
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract]
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Net Carrying Amount	0
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value [Abstract]
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Fair Value	$ 0

Investments - Fair Value and Unrealized Losses (Details) $ in Thousands	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Fixed maturities, Fair value
Less than 12 Months, Fair value	$ 1,674,889	$ 1,294,157
12 Months or More, Fair value	431,159	592,418
Total, Fair value	2,106,048	1,886,575
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(29,738)	(46,935)
12 Months or More, Unrealized losses	(57,444)	(78,282)
Total, Unrealized losses	(87,182)	(125,217)
Investments, Fair value
Less than 12 Months, Fair value		1,299,062
12 Months or More, Fair value	431,159	592,418
Total, Fair value	2,106,048	1,891,480
Investments, Unrealized losses
Less than 12 Months, Unrealized losses		(47,030)
12 Months or More, Unrealized losses	(57,444)	(78,282)
Total, Unrealized losses	$ (87,182)	$ (125,312)
Number of securities in an unrealized loss position \| security	251	270
Number of securities in an unrealized loss position greater than 12 months \| security	91	93
U.S. treasury bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	$ 589	$ 1,119
12 Months or More, Fair value	0	0
Total, Fair value	589	1,119
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(11)	(16)
12 Months or More, Unrealized losses	0	0
Total, Unrealized losses	(11)	(16)
U.S. agency bonds – mortgage-backed
Fixed maturities, Fair value
Less than 12 Months, Fair value	997,943	443,331
12 Months or More, Fair value	47,969	170,053
Total, Fair value	1,045,912	613,384
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(14,440)	(4,113)
12 Months or More, Unrealized losses	(2,825)	(6,077)
Total, Unrealized losses	(17,265)	(10,190)
Non-U.S. government and supranational bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	3,169	6,958
12 Months or More, Fair value	25,236	22,586
Total, Fair value	28,405	29,544
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(160)	(365)
12 Months or More, Unrealized losses	(5,137)	(4,219)
Total, Unrealized losses	(5,297)	(4,584)
Asset-backed securities
Fixed maturities, Fair value
Less than 12 Months, Fair value	30,589	89,838
12 Months or More, Fair value	0	0
Total, Fair value	30,589	89,838
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(69)	(1,089)
12 Months or More, Unrealized losses	0	0
Total, Unrealized losses	(69)	(1,089)
Corporate bonds
Fixed maturities, Fair value
Less than 12 Months, Fair value	642,599	752,911
12 Months or More, Fair value	357,954	399,779
Total, Fair value	1,000,553	1,152,690
Fixed maturities, Unrealized losses
Less than 12 Months, Unrealized losses	(15,058)	(41,352)
12 Months or More, Unrealized losses	(49,482)	(67,986)
Total, Unrealized losses	$ (64,540)	(109,338)
Other investments
Investments, Fair value
Less than 12 Months, Fair value		4,905
12 Months or More, Fair value		0
Total, Fair value		4,905
Investments, Unrealized losses
Less than 12 Months, Unrealized losses		(95)
12 Months or More, Unrealized losses		0
Total, Unrealized losses		$ (95)

Investments - Credit Ratings (Details) - USD ($)	12 Months Ended
Investments - Credit Ratings (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Fixed Maturities [Line Items]
OTTI recognized through earnings	$ 0	$ 1,060,000	$ 2,364,000
Amortized cost	4,757,854,000	4,170,707,000
Fair value	$ 4,737,801,000	$ 4,107,063,000
% of Total fair value	100.00%	100.00%
U.S. treasury bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 5,186,000	$ 5,714,000
Fair value	$ 5,413,000	$ 6,010,000
% of Total fair value	0.10%	0.10%
U.S. agency bonds
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 1,738,518,000	$ 1,495,516,000
Fair value	$ 1,734,140,000	$ 1,501,302,000
% of Total fair value	36.60%	36.60%
AAA
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 170,515,000	$ 170,190,000
Fair value	$ 171,090,000	$ 170,391,000
% of Total fair value	3.60%	4.10%
AA Plus, AA, AA Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 238,315,000	$ 222,506,000
Fair value	$ 237,169,000	$ 223,084,000
% of Total fair value	5.00%	5.40%
A Plus, A, A Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 1,386,023,000	$ 1,075,550,000
Fair value	$ 1,374,860,000	$ 1,066,794,000
% of Total fair value	29.00%	26.00%
BBB Plus, BBB, BBB Minus
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 1,053,529,000	$ 1,077,064,000
Fair value	$ 1,047,376,000	$ 1,039,228,000
% of Total fair value	22.20%	25.30%
BB Plus or Lower
Schedule of Fixed Maturities [Line Items]
Amortized cost	$ 165,768,000	$ 124,167,000
Fair value	$ 167,753,000	$ 100,254,000
% of Total fair value	3.50%	2.50%

Investments - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Investments [Line Items]
Other investments, Fair value	$ 13,060	$ 11,812
% of Total fair value	100.00%	100.00%
Investment in limited partnerships
Schedule of Investments [Line Items]
Other investments, Fair value	$ 5,474	$ 5,907
% of Total fair value	41.90%	50.00%
Unfunded commitment on investments in limited partnerships	$ 463	$ 622
Investment in quoted equity
Schedule of Investments [Line Items]
Other investments, Fair value	$ 6,586	$ 4,905
% of Total fair value	50.40%	41.50%
Other
Schedule of Investments [Line Items]
Other investments, Fair value	$ 1,000	$ 1,000
% of Total fair value	7.70%	8.50%

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 152,817	$ 137,149	$ 122,470
Investment expenses	(6,925)	(6,057)	(5,255)
Net investment income	145,892	131,092	117,215
Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	147,011	132,394	118,203
Cash and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	3,328	2,578	2,224
Loan to related party
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	2,360	1,865	1,797
Other
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Investment income	$ 118	$ 312	$ 246

Investments - Realized Gains (Losses) on Investment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Line Items]
Gross gains	$ 7,690	$ 3,041	$ 1,773
Gross losses	(916)	(543)	(610)
Net	6,774	2,498	1,163
Proceeds from sales of fixed maturities classified as available-for-sale	129,306	129,152	171,216
Total net unrealized (losses) gains	(20,632)	(54,028)	78,749
Deferred income tax	(84)	(84)	(170)
Net unrealized (losses) gains, net of deferred income tax	(20,716)	(54,112)	78,579
Change, net of deferred income tax	33,396	(132,691)	43,851
Other investments
Gain (Loss) on Investments [Line Items]
Gross gains	550	192	439
Gross losses	0	0	0
Net	550	192	439
Total net unrealized (losses) gains	3,003	996	1,709
Fixed maturities \| Available-for-sale securities
Gain (Loss) on Investments [Line Items]
Gross gains	7,140	2,849	1,334
Gross losses	(916)	(543)	(610)
Net	6,224	2,306	724
Total net unrealized (losses) gains	$ (23,635)	$ (55,024)	$ 77,040

Investments - Restricted Cash and Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Investments Items [Line Items]
Restricted cash	$ 103,788	$ 242,859
Restricted investments	4,295,008	3,425,585
Total restricted cash and investments	4,398,796	3,668,444
Amortized cost	4,767,911	4,181,523
Third party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	56,891	102,837
Restricted investments	1,299,569	1,067,602
Amortized cost	1,307,926	1,081,202
Related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted cash	46,777	139,944
Restricted investments	2,225,066	1,754,705
Amortized cost	2,242,565	1,781,178
HTM, related party agreements
Restricted Cash and Investments Items [Line Items]
Restricted investments	766,135	598,975
Amortized cost	752,212	607,843
US state regulatory authorities
Restricted Cash and Investments Items [Line Items]
Restricted cash	120	78
Restricted investments	4,238	4,303
Amortized cost	$ 4,059	$ 4,071

Fair Value Measurements - Changes in Level 3 Financial Instruments (Details) - Other investments - Fair Value, Measurements, Recurring - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 6,907	$ 6,581
Total realized gains – included in net realized gains on investment	448	192
Total realized losses – included in net realized gains on investment	0	0
Change in total unrealized gains – included in other comprehensive income (loss)	78	373
Change in total unrealized losses – included in other comprehensive income (loss)	0	0
Purchases	172	217
Sales and redemptions	(1,131)	(456)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at end of period	6,474	6,907
Level 3 gains included in net income attributable to the change in unrealized gains relating to assets held at the reporting date	$ 0	$ 0

Fair Value Measurements - Financial Instruments Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 4,750,861	$ 4,118,875
Carrying Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	752,212	607,843
Financial Liabilities	362,500	360,000
Carrying Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 110,000	$ 0
Stated interest rate	6.625%	6.625%
Carrying Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 152,500	$ 152,500
Stated interest rate	7.75%	7.75%
Carrying Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNB – 8.00%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 100,000	$ 100,000
Stated interest rate	8.00%	8.00%
Carrying Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNA – 8.25%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	$ 0	$ 107,500
Stated interest rate	8.25%	8.25%
Fair Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 766,135	$ 598,975
Financial Liabilities	377,752	381,208
Fair Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHLA – 6.625%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	111,452	0
Fair Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNC – 7.75%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	164,700	165,456
Fair Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNB – 8.00%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	101,600	105,328
Fair Value \| Senior Notes \| Significant Other Observable Inputs (Level 2) \| MHNA – 8.25%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities	0	110,424
Held-to-maturity Securities \| Corporate bonds \| Carrying Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	752,212	607,843
Held-to-maturity Securities \| Corporate bonds \| Fair Value \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets	$ 766,135	$ 598,975

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Intangible Assets, Net (Including Goodwill) [Roll Forward]
Goodwill, beginning balance	$ 58,936,000	$ 58,312,000
Intangible assets, beginning balance	22,984,000	29,024,000
Goodwill and Intangible assets, beginning balance	81,920,000	87,336,000
Goodwill, acquired during the year		1,800,000
Goodwill, disposed during the year		(1,120,000)
Intangible assets, disposed during the year		(3,200,000)
Goodwill and intangible assets, disposed during the year		(4,320,000)
Goodwill, cumulative translation adjustment	56,000	(56,000)
Amortization	(2,461,000)	(2,840,000)	$ (3,277,000)
Impairment losses	(1,800,000)	0	0
Goodwill, ending balance	57,192,000	58,936,000	58,312,000
Intangible assets, ending balance	20,523,000	22,984,000	29,024,000
Goodwill and Intangible assets, ending balance	$ 77,715,000	$ 81,920,000	$ 87,336,000

Goodwill and Intangible Assets - Components of Intangible Assets (Details) - USD ($)		12 Months Ended
	Nov. 04, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets [Line Items]
Goodwill, disposed during the year			$ (1,120,000)
Intangible assets, disposed during the year			(3,200,000)
Goodwill, acquired during the year			1,800,000
Impairment of goodwill and intangible assets		$ 1,800,000	0	$ 0
Goodwill, Gross		58,992,000
Balance, Gross		114,919,000	114,863,000
Accumulated Amortization		(35,404,000)	(32,943,000)
Accumulated Impairment		(1,800,000)
Goodwill		57,192,000	58,936,000	58,312,000
Balance, Net		77,715,000	81,920,000	$ 87,336,000
Customer relationships
Goodwill and Intangible Assets [Line Items]
Finite-lived assets		51,400,000	51,400,000
Accumulated Amortization		(35,404,000)	(32,943,000)
Finite-lived assets, Net		15,996,000	$ 18,457,000
Useful Life			15 years	15 years
State licenses
Goodwill and Intangible Assets [Line Items]
Indefinite-lived assets		$ 4,527,000	$ 4,527,000
IRC
Goodwill and Intangible Assets [Line Items]
Goodwill, acquired during the year			$ 1,800,000
Maiden Specialty
Goodwill and Intangible Assets [Line Items]
Goodwill, disposed during the year	$ (1,120,000)
Intangible assets, disposed during the year	$ (3,200,000)

Goodwill and Intangible Assets - Estimated Amortization (Details) $ in Thousands	Dec. 31, 2016 USD ($)
Estimated amortization expenses for the next five years [Abstract]
2017	$ 2,133
2018	1,848
2019	1,602
2020	1,388
2021	$ 1,203

Long-Term Debt - Narrative (Details) - USD ($)		12 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Jun. 15, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 14, 2016
Debt Instrument [Line Items]
Accelerated amortization of debt issuance cost	$ 2,345,000	$ 2,345,000	$ 0	$ 28,240,000
Interest expense		28,173,000	29,063,000	29,959,000
Senior Notes
Debt Instrument [Line Items]
Principal amount, debt		362,500,000	360,000,000
Interest expense		27,827,000	28,687,000	28,687,000
Accrued interest		1,453,000	1,523,000
Amortization expense, debt issuance costs		346,000	376,000	$ 375,000
2016 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount, debt		$ 110,000,000	0		$ 110,000,000
Stated interest rate		6.625%			6.625%
2011 Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount, debt	$ 107,500,000	$ 0	$ 107,500,000
Stated interest rate		8.25%
Redemption price percentage	100.00%

Long-Term Debt - Senior Notes Issuances (Details) - USD ($)	Dec. 31, 2016	Jun. 15, 2016	Jun. 14, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Less unamortized issuance costs	$ 11,091,000			$ 10,067,000
Senior notes, net	351,409,000			349,933,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	362,500,000			360,000,000
Less unamortized issuance costs	11,091,000			10,067,000
Senior notes, net	351,409,000			349,933,000
Senior Notes \| 2016 Senior Notes
Debt Instrument [Line Items]
Principal amount	110,000,000		$ 110,000,000	0
Less unamortized issuance costs	3,694,000			0
Senior notes, net	106,306,000			0
Original debt issuance costs	$ 3,715,000
Coupon rate	6.625%		6.625%
Effective interest rate	7.07%
Senior Notes \| 2013 Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 152,500,000			152,500,000
Less unamortized issuance costs	4,532,000			4,701,000
Senior notes, net	147,968,000			147,799,000
Original debt issuance costs	$ 5,054,000
Coupon rate	7.75%
Effective interest rate	8.04%
Senior Notes \| 2012 Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 100,000,000			100,000,000
Less unamortized issuance costs	2,865,000			2,979,000
Senior notes, net	97,135,000			97,021,000
Original debt issuance costs	$ 3,406,000
Coupon rate	8.00%
Effective interest rate	8.31%
Senior Notes \| 2011 Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 0	$ 107,500,000		107,500,000
Less unamortized issuance costs	0			2,387,000
Senior notes, net	0			$ 105,113,000
Original debt issuance costs	$ 2,811,000
Coupon rate	8.25%
Effective interest rate	8.47%

Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reinsurance Disclosures [Abstract]
Premiums written, Direct	$ 8,045	$ 9,160	$ 48,565
Premiums written, Assumed	2,823,303	2,653,666	2,458,787
Premiums written, Ceded	(176,396)	(148,710)	(49,216)
Premiums written, Net	2,654,952	2,514,116	2,458,136
Premium earned, Direct	9,766	26,358	70,807
Premium earned, Assumed	2,698,879	2,481,515	2,253,750
Premium earned, Ceded	(140,495)	(78,804)	(72,814)
Net premiums earned	2,568,150	2,429,069	2,251,743
Gross loss and LAE	1,918,797	1,687,564	1,592,795
Loss and LAE ceded	(98,891)	(53,994)	(94,524)
Net loss and loss adjustment expenses	$ 1,819,906	$ 1,633,570	$ 1,498,271

Reinsurance - Narrative (Details) - Reinsurance recoverable - Customer concentration risk	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Rating A or better
Concentration Risk [Line Items]
Concentration risk, percentage	97.20%	99.10%
Rating B Plus Plus or lower
Concentration Risk [Line Items]
Concentration risk, percentage	2.80%	0.90%
Concentration risk, collateralized, percentage	98.60%	69.40%
Major customer one
Concentration Risk [Line Items]
Concentration risk, percentage	54.80%	40.90%
Major customer two
Concentration Risk [Line Items]
Concentration risk, percentage	31.60%	35.50%
Major customer three
Concentration Risk [Line Items]
Concentration risk, percentage	2.90%	4.80%

Reserve for Loss and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2010	Oct. 31, 2008
Insurance [Abstract]
Reserve for reported loss and LAE				$ 1,617,956	$ 1,411,712
Reserve for losses incurred but not reported (IBNR)				1,278,540	1,098,389
Reserve for loss and LAE	$ 2,510,101	$ 2,271,292	$ 1,957,835	2,896,496	$ 2,510,101
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Gross loss and LAE reserves, January 1	2,510,101	2,271,292	1,957,835
Less: reinsurance recoverable on unpaid losses, January 1	71,248	75,873	84,036
Net loss and LAE reserves, January 1	2,438,853	2,195,419	1,873,799
Net incurred losses related to Current year	1,600,454	1,558,704	1,479,425
Net incurred losses related to Prior years	219,452	74,866	18,846
Net incurred losses	1,819,906	1,633,570	1,498,271
Net paid losses related to Current year	(430,707)	(457,517)	(430,394)
Net paid losses related to Prior years	(1,006,884)	(892,840)	(705,397)
Net paid losses	(1,437,591)	(1,350,357)	(1,135,791)
Effect of foreign exchange movements	(24,608)	(39,779)	(40,860)
Net loss and LAE reserves, December 31	2,796,560	2,438,853	2,195,419
Reinsurance recoverable on unpaid losses, December 31	99,936	71,248	75,873
Gross loss and LAE reserves, December 31	$ 2,896,496	$ 2,510,101	$ 2,271,292
Percentage of prior year net loss and loss adjustment expense reserves	9.00%	3.30%	1.00%
Segment Reporting Information [Line Items]
Adverse (favorable) development, net of commission changes on adjustable contracts	$ 165,343
Reserves acquired from loss portfolio transfer agreements				2,796,560
Diversified Reinsurance segment
Segment Reporting Information [Line Items]
Adverse (favorable) development, net of commission changes on adjustable contracts	96,788	$ 49,856	$ 14,959
Reserves acquired from loss portfolio transfer agreements				1,049,636		$ 98,827	$ 755,554
AmTrust Reinsurance segment
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Net paid losses		(107,000)
Segment Reporting Information [Line Items]
Adverse (favorable) development, net of commission changes on adjustable contracts	$ 54,000	$ 9,100	$ 13,900
Reserves acquired from loss portfolio transfer agreements				$ 1,724,795

Reserve for Loss and Loss Adjustment Expenses - Incurred losses and LAE and cumulative paid losses and LAE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Nov. 30, 2010	Oct. 31, 2008
Claims Development [Line Items]
Payment and reduction of loss and unearned premium reserves	$ 1,437,591	$ 1,350,357	$ 1,135,791
Total net reserves	2,796,560
Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	4,888,114
Total IBNR	540,402
Cumulative paid losses and LAE, net of reinsurance	3,838,478
Total net reserves	1,049,636						$ 98,827	$ 755,554
AmTrust Reinsurance
Claims Development [Line Items]
Payment and reduction of loss and unearned premium reserves		107,000
Incurred losses and LAE, net of reinsurance	5,415,153
Total IBNR	675,936
Cumulative paid losses and LAE, net of reinsurance	3,690,358
Total net reserves	1,724,795
Accident Year 2007 and prior \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	556,561	552,342	546,160	$ 552,718	$ 563,762	$ 570,859
Total IBNR	7,626
Cumulative paid losses and LAE, net of reinsurance	476,064	470,930	452,716	432,821	394,639	349,690
Accident Year 2007 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	72,947	71,857	70,531	67,048	67,204	67,836
Total IBNR	18
Cumulative paid losses and LAE, net of reinsurance	71,414	70,109	70,246	67,639	65,545	64,128
Accident Year 2008 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	180,957	180,624	179,100	180,972	188,325	207,118
Total IBNR	17,681
Cumulative paid losses and LAE, net of reinsurance	157,420	147,568	140,884	135,439	126,265	111,589
Accident Year 2008 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	246,009	242,624	238,357	224,667	224,460	225,656
Total IBNR	1,445
Cumulative paid losses and LAE, net of reinsurance	234,499	231,399	231,095	219,088	210,319	194,344
Accident Year 2009 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	367,738	367,492	366,680	362,134	370,940	376,766
Total IBNR	15,767
Cumulative paid losses and LAE, net of reinsurance	292,088	283,705	274,120	264,246	252,388	225,940
Accident Year 2009 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	257,829	252,686	249,583	248,792	238,131	226,650
Total IBNR	1,981
Cumulative paid losses and LAE, net of reinsurance	242,516	236,632	232,364	232,478	220,376	192,446
Accident Year 2010 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	590,871	583,788	591,836	559,628	517,885	519,644
Total IBNR	13,207
Cumulative paid losses and LAE, net of reinsurance	551,702	536,759	511,819	479,840	422,063	336,181
Accident Year 2010 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	329,971	309,161	302,721	295,502	285,118	279,228
Total IBNR	3,176
Cumulative paid losses and LAE, net of reinsurance	312,743	296,332	288,261	252,841	227,598	194,566
Accident Year 2011 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	503,011	499,809	497,245	480,265	500,027	475,042
Total IBNR	16,595
Cumulative paid losses and LAE, net of reinsurance	459,451	445,476	427,817	387,380	326,995	168,075
Accident Year 2011 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	406,203	401,861	390,325	367,915	352,187	342,577
Total IBNR	(3,564)
Cumulative paid losses and LAE, net of reinsurance	373,974	363,457	328,710	278,150	235,792	$ 161,926
Accident Year 2012 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	561,003	551,957	547,331	527,380	549,587
Total IBNR	21,098
Cumulative paid losses and LAE, net of reinsurance	483,631	453,673	420,709	351,247	201,871
Accident Year 2012 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	497,132	482,833	480,984	450,770	473,294
Total IBNR	(30,776)
Cumulative paid losses and LAE, net of reinsurance	453,428	409,910	354,717	235,473	$ 150,495
Accident Year 2013 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	537,057	516,728	454,637	531,167
Total IBNR	38,675
Cumulative paid losses and LAE, net of reinsurance	453,911	408,651	334,452	192,601
Accident Year 2013 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	611,617	576,524	576,404	648,071
Total IBNR	(10,187)
Cumulative paid losses and LAE, net of reinsurance	504,964	432,396	323,134	$ 213,499
Accident Year 2014 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	596,039	565,198	583,353
Total IBNR	79,168
Cumulative paid losses and LAE, net of reinsurance	457,165	377,434	197,964
Accident Year 2014 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	844,465	838,549	854,667
Total IBNR	53,727
Cumulative paid losses and LAE, net of reinsurance	610,327	479,119	$ 213,565
Accident Year 2015 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	513,791	493,518
Total IBNR	112,954
Cumulative paid losses and LAE, net of reinsurance	331,595	180,698
Accident Year 2015 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	1,031,258	1,033,505
Total IBNR	141,662
Cumulative paid losses and LAE, net of reinsurance	630,914	$ 284,147
Accident Year 2016 \| Diversified Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	481,086
Total IBNR	217,631
Cumulative paid losses and LAE, net of reinsurance	175,451
Accident Year 2016 \| AmTrust Reinsurance
Claims Development [Line Items]
Incurred losses and LAE, net of reinsurance	1,117,722
Total IBNR	518,454
Cumulative paid losses and LAE, net of reinsurance	$ 255,579

Reserve for Loss and Loss Adjustment Expenses - Reconciliation of claim development to reserve for loss and LAE (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2010	Oct. 31, 2008
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	$ 2,796,560
Reinsurance Recoverables on unpaid claims	99,936
Reserve for loss and loss adjustment expenses	2,896,496	$ 2,510,101	$ 2,271,292	$ 1,957,835
Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	1,049,636				$ 98,827	$ 755,554
AmTrust Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	1,724,795
Operating Segments \| Diversified Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	1,049,636
Reinsurance Recoverables on unpaid claims	54,299
Reserve for loss and loss adjustment expenses	1,103,935
Operating Segments \| AmTrust Reinsurance
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	1,724,795
Reinsurance Recoverables on unpaid claims	32,933
Reserve for loss and loss adjustment expenses	1,757,728
Other
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Total Net Reserves	22,129
Reinsurance Recoverables on unpaid claims	12,704
Reserve for loss and loss adjustment expenses	$ 34,833

Reserve for Loss and Loss Adjustment Expenses - Historical average annual payout (Details)	Dec. 31, 2016
Diversified Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	35.90%
Year 2	30.90%
Year 3	9.70%
Year 4	5.60%
Year 5	2.50%
Year 6	2.80%
AmTrust Reinsurance
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	28.40%
Year 2	28.00%
Year 3	14.70%
Year 4	10.30%
Year 5	7.70%
Year 6	1.40%

Related Party Transactions - AmTrust (Details)										12 Months Ended
Related Party Transactions - AmTrust (Details)	Jul. 01, 2016	Apr. 01, 2012 USD ($)	Jan. 01, 2012 EUR (€)	Apr. 01, 2011 EUR (€)	Mar. 01, 2011	Sep. 01, 2010	Jun. 01, 2008	Jul. 01, 2007 USD ($)	Apr. 01, 2007	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Related Party Transaction [Line Items]
Net premiums earned										$ 2,568,150,000	$ 2,429,069,000	$ 2,251,743,000
Loan to related party										$ 167,975,000	167,975,000
Leah Karfunkel
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										7.90%
Leah Karfunkel \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										43.00%
Barry Zyskind
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										7.50%
George Karfunkel
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										2.00%
Founding shareholders \| AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Controlling interest, ownership percentage										49.30%
AmTrust Financial Services, Inc.
Related Party Transaction [Line Items]
Loan to related party											$ 167,975,000
AmTrust Financial Services, Inc. \| LIBOR
Related Party Transaction [Line Items]
Loan to related party, Basis spread on LIBOR										0.90%	0.90%
AmTrust Financial Services, Inc. \| Quota Share Reinsurance Agreements \| Commission expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 590,737,000	$ 518,196,000	401,679,000
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Percent of premiums written, net of cost of unaffiliated inuring reinsurance from related party								40.00%
Percent of losses with respect to current lines of business, excluding those above covered business threshold to related party								40.00%
Commission rate, percent of ceded written premiums							34.375%	31.00%
Contract extension (in years)	3 years
Cancellation notice period	9 months
Cancellation notice period upon the occurrence of certain early termination events (in days)	30 days
Early termination events, reduction threshold of stockholders' equity	50.00%
Consideration paid for agreement to commute certain liabilities including unearned premiums and loss reserves											107,000,000
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Minimum
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio floor								81.50%
AmTrust Financial Services, Inc. \| AmTrust Quota Share Reinsurance Agreement \| Maximum
Related Party Transaction [Line Items]
Commission rate, adjustment criteria, loss ratio ceiling								95.00%
AmTrust Financial Services, Inc. \| AmTrust European Hospital Liability Quota Share Agreement
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums				5.00%
Premiums and losses related to policies	32.50%			40.00%
Maximum limit of liability attaching \| €			€ 10,000,000	€ 5,000,000
Percent basis currency equivalent of maximum limit of liability attaching				100.00%
Future premiums and losses related to policies	20.00%
AmTrust Financial Services, Inc. \| AmTrust Technology Reinsurance Agreement
Related Party Transaction [Line Items]
Commission rate, percent of ceded written premiums						5.00%
Percent of credit insurance business to cede						90.00%
Percent of general liability business to cede						100.00%
AmTrust Financial Services, Inc. \| AmTrust Technology Reinsurance Agreement \| Premiums Earned
Related Party Transaction [Line Items]
Revenue from related parties										19,000	68,000	171,000
AmTrust Financial Services, Inc. \| AmTrust Technology Reinsurance Agreement \| Commission expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										1,000	3,000	8,000
AmTrust Financial Services, Inc. \| AmTrust NA Reinsurance Agreement
Related Party Transaction [Line Items]
Agreement period (in years)		1 year
Reinsurance coverage threshold		$ 1,000,000
Net premiums earned										1,139,000	673,000	1,241,000
AmTrust Financial Services, Inc. \| AmTrust NA Reinsurance Agreement \| Commission expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										295,000	166,000	262,000
AmTrust Financial Services, Inc. \| Reinsurer Trust Assets Collateral Agreement
Related Party Transaction [Line Items]
Collateral held by related party										2,766,032,000	2,256,383,000
Accrued interest on collateral held by related party										20,420,000	15,448,000
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements
Related Party Transaction [Line Items]
Cancellation notice period									30 days
Brokerage fee, percent of premium assumed									1.25%
AmTrust Financial Services, Inc. \| Reinsurance Brokerage Agreements \| Brokerage expense
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										24,146,000	21,475,000	17,229,000
Balances due to related party										14,395,000	13,464,000
AmTrust Financial Services, Inc. \| Asset Management Agreement
Related Party Transaction [Line Items]
Cancellation notice period								30 days
Quarterly brokerage fee, above portfolio threshold, percent of average holdings								0.0375%
Quarterly brokerage fee, portfolio threshold								$ 1,000,000,000
AmTrust Financial Services, Inc. \| Asset Management Agreement \| Investment Management Fee
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										6,925,000	6,057,000	5,214,000
AmTrust Financial Services, Inc. \| AmTrust Time Sharing Agreement
Related Party Transaction [Line Items]
Contract extension (in years)					1 year
AmTrust Financial Services, Inc. \| AmTrust Time Sharing Agreement \| Aircraft expenses
Related Party Transaction [Line Items]
Expenses recorded from related party transactions										$ 61,000	$ 89,000	$ 88,000
AmTrust Financial Services, Inc. \| National General Holdings Corp.
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage										11.60%

Related Party Transactions - NGHC (Details) - USD ($)				12 Months Ended
Related Party Transactions - NGHC (Details) - USD ($)	May 01, 2015	Apr. 01, 2015	Mar. 01, 2010	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Premiums earned				$ 2,568,150,000	$ 2,429,069,000	$ 2,251,743,000
National General Holdings Corp. \| NGHC Quota Share Reinsurance Agreement
Related Party Transaction [Line Items]
Percent participation in quota share by subsidiary			50.00%
Percent of net premiums of personal lines business received by subsidiary			25.00%
Percent of net losses related to premiums of personal lines business assumed by reinsurers			25.00%
Ceding commission expense				0	0	6,509,000
National General Holdings Corp. \| NGHC Subsidiaries Reinsurance Agreement
Related Party Transaction [Line Items]
Reinsurance coverage limit				8,825,000
Premiums earned				442,000	25,000
Cancellation notice period	60 days
Medical Excess of Loss Reinsurance Agreement \| National General Holdings Corp. \| NGHC Subsidiaries Reinsurance Agreement
Related Party Transaction [Line Items]
Liability percentage		100.00%
Reinsurance coverage threshold	$ 1,000,000			1,175,000
Reinsurance coverage limit	4,000,000
Maximum limit of liability attaching	2,000,000			2,000,000
Premiums earned				$ 157,000	$ 443,000	$ 190,000
Layer 1 \| Medical Excess of Loss Reinsurance Agreement \| National General Holdings Corp. \| NGHC Subsidiaries Reinsurance Agreement
Related Party Transaction [Line Items]
Reinsurance coverage threshold	1,000,000
Reinsurance coverage limit	1,000,000
Layer 2 \| Medical Excess of Loss Reinsurance Agreement \| National General Holdings Corp. \| NGHC Subsidiaries Reinsurance Agreement
Related Party Transaction [Line Items]
Reinsurance coverage threshold	2,000,000
Reinsurance coverage limit	3,000,000
Layer 3 \| Medical Excess of Loss Reinsurance Agreement \| National General Holdings Corp. \| NGHC Subsidiaries Reinsurance Agreement
Related Party Transaction [Line Items]
Reinsurance coverage threshold	5,000,000
Reinsurance coverage limit	$ 5,000,000

Commitments, Contingencies and Concentrations (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 01, 2016 $ / shares	Dec. 31, 2016 USD ($) broker $ / shares	Dec. 31, 2015 USD ($) $ / shares	Dec. 31, 2014 USD ($) $ / shares
Loss Contingencies [Line Items]
Gross premiums written		$ 2,831,348	$ 2,662,825	$ 2,507,352
Letters of credit outstanding		$ 76,656	76,964
Renewal term (in years)		5 years
Rent expense		$ 1,616	$ 1,984	$ 2,220
2017		1,366
2018		597
2019		495
2020		337
2021		0
Total		$ 2,795
Dividends declared per common share (in dollars per share) \| $ / shares	$ 0.15	$ 0.57	$ 0.53	$ 0.46
Letter of credit
Loss Contingencies [Line Items]
Collateral		$ 108,786	$ 108,666
AmTrust Reinsurance
Loss Contingencies [Line Items]
Gross premiums written		2,006,646	1,885,974	$ 1,610,485
Investment in limited partnerships
Loss Contingencies [Line Items]
Unfunded commitment on investments in limited partnerships		$ 463	$ 622
Segment concentration risk \| Gross premiums written \| AmTrust Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage		70.90%	70.80%	64.20%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance
Loss Contingencies [Line Items]
Concentration risk, percentage		53.90%	54.60%	57.10%
Number of major brokers \| broker		3
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Top 3 Brokers
Loss Contingencies [Line Items]
Concentration risk, percentage		34.60%	36.90%	31.60%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Aon Benfield Group, Ltd.
Loss Contingencies [Line Items]
Concentration risk, percentage		13.80%	17.30%	15.80%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Marsh & McLennan Inc.
Loss Contingencies [Line Items]
Concentration risk, percentage		11.90%	12.20%	12.00%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Beach & Associates, Ltd.
Loss Contingencies [Line Items]
Concentration risk, percentage		8.90%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| U.S. RE Corporation
Loss Contingencies [Line Items]
Concentration risk, percentage			7.40%
Broker concentration risk \| Gross premiums written \| Diversified Reinsurance \| Tiger Risk Partners
Loss Contingencies [Line Items]
Concentration risk, percentage				3.80%

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
	Sep. 15, 2016	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Maiden		$ (74,731)	$ 31,829	$ 30,910	$ 27,216	$ 24,716	$ 22,499	$ 20,519	$ 32,405	$ 48,980	$ 124,476	$ 101,391
Dividends on preference shares										(33,756)	(24,337)	(24,337)
Amount allocated to participating common shareholders										(7)	(52)	(94)
Numerator for basic EPS - net income allocated to Maiden common shareholders										15,217	100,087	76,960
Dividends on convertible preference shares - Series B										0	11,962	0
Numerator for diluted EPS - net income allocated to Maiden common shareholders after assumed conversion										$ 15,217	$ 112,049	$ 76,960
Weighted average number of common shares – basic (in shares)										77,534,860	73,478,544	72,843,782
Potentially dilutive securities:
Share options and restricted share units (in shares)										1,152,083	1,319,074	1,273,786
Convertible preference shares (in shares)										0	10,840,617	0
Adjusted weighted average number of common shares and assumed conversions - diluted (in shares)										78,686,943	85,638,235	74,117,568
Basic earnings per share attributable to Maiden common shareholders (in dollars per share)		$ (0.87)	$ 0.42	$ 0.42	$ 0.37	$ 0.34	$ 0.31	$ 0.28	$ 0.44	$ 0.20	$ 1.36	$ 1.06
Diluted earnings per share attributable to Maiden common shareholders (in dollars per share)		$ (0.87)	$ 0.40	$ 0.39	$ 0.35	$ 0.32	$ 0.30	$ 0.27	$ 0.41	$ 0.19	$ 1.31	$ 1.04
Series A Preference Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares										$ (12,375)	$ (12,375)	$ (12,375)
Series B Convertible Preference Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares										$ (8,971)	$ (11,962)	$ (11,962)
Potentially dilutive securities:
Mandatory conversion of Preference Shares - Series B	$ 165
Number of shares converted (in shares)	12,069,090									12,069,090	0	0
Common shares issued per convertible preference share (in shares)	3.6573
Preference shares – Series C
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dividends on preference shares										$ (12,410)	$ 0	$ 0

Earnings per Common Share - Anti-dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive share options excluded from the calculation of diluted earnings per common share (in shares)	24,000	0	17,293

Shareholders' Equity - Narrative (Details)												1 Months Ended	12 Months Ended
Shareholders' Equity - Narrative (Details)	Sep. 15, 2016 shares	Mar. 10, 2016 $ / shares shares	Feb. 17, 2016 $ / shares shares	Feb. 15, 2016 $ / shares shares	Jan. 01, 2016 $ / shares shares	Nov. 25, 2015 USD ($) director $ / shares shares	Mar. 05, 2015 $ / shares shares	Feb. 19, 2015 $ / shares shares	Jan. 01, 2015 $ / shares shares	Feb. 19, 2014 $ / shares shares	Aug. 22, 2012 USD ($) director $ / shares shares	Oct. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2014 USD ($) shares	Jul. 24, 2014 USD ($)	Dec. 31, 2013 shares
Class of Stock [Line Items]
Shares authorized (in shares) \| shares													150,000,000
Common shares, shares issued (in shares) \| shares													87,321,012	74,735,785
Common shares, shares outstanding (in shares) \| shares													86,271,109	73,721,140	72,932,702		72,633,561
Preference shares issued (in shares) \| shares													12,600,000
Shares undesignated (in shares) \| shares													50,078,988
Common shares, par value (in dollars per share)													$ 0.01	$ 0.01
Number of shares issued (in shares) \| shares													251,027	378,120	184,396
Proceeds from issuance of Preference Shares \| $													$ (143,000)	$ 159,628,000	$ 0
Preferred Stock, number of Directors contingently electable \| director						2					2
Preferred Stock, dividend default period											six or more dividend periods
Shares repurchased (in shares) \| shares		20,469	1,183	10,255	3,351		33,846	7,658	4,954	5,851			35,258	46,458	5,851
Shares repurchased, price per share		$ 13.16	$ 13.36	$ 13.16	$ 14.91		$ 14.21	$ 14.40	$ 12.79	$ 11.18
Preference Shares - Series C
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares						6,600,000
Dividend rate of Preference Shares						7.125%
Par value of Preference Shares (in dollars per share)						$ 0.01
Fair value of share (in dollars per share)						25
Redemption price for Preference Shares (in dollars per share)						$ 25
Proceeds from issuance of Preference Shares \| $						$ 159,485,000
Expenses and underwriting discounts \| $						$ 5,515,000
Shares authorized (in shares) \| shares						6,600,000
Sale price of Preference Shares (in dollars per share)						$ 25
Dividends on preference shares \| $													$ 12,410,000	$ 0
Mandatory Convertible Preference Shares - Series B
Class of Stock [Line Items]
Dividend rate of Preference Shares												7.25%
Par value of Preference Shares (in dollars per share)												$ 0.01
Fair value of share (in dollars per share)												$ 50
Proceeds from issuance of Preference Shares \| $												$ 159,675,000
Expenses and underwriting discounts \| $												$ 5,325,000
Shares authorized (in shares) \| shares												3,300,000
Sale price of Preference Shares (in dollars per share)												$ 50
Preference shares offered (in shares) \| shares												3,300,000
Liquidation preference per share per annum (in dollars per share)												$ 3.625
Liquidation preference per share per quarter (in dollars per share)												0.90625
Liquidation preference per share in initial quarter (in dollars per share)												$ 0.745139
Convertible Preferred Stock, conversion rate measurement period												40 days
Dividends on preference shares \| $													$ 8,971,000	$ 11,962,000	$ 11,962,000
Series B Convertible Preference Shares
Class of Stock [Line Items]
Number of shares converted (in shares) \| shares	12,069,090												12,069,090	0	0
Common shares issued per convertible preference share (in shares) \| shares	3.6573
Preference shares – Series A
Class of Stock [Line Items]
Number of shares issued (in shares) \| shares											6,000,000
Dividend rate of Preference Shares											8.25%
Par value of Preference Shares (in dollars per share)											$ 0.01
Fair value of share (in dollars per share)											25
Redemption price for Preference Shares (in dollars per share)											$ 25
Proceeds from issuance of Preference Shares \| $											$ 145,041,000
Expenses and underwriting discounts \| $											$ 4,959,000
Shares authorized (in shares) \| shares											6,000,000
Sale price of Preference Shares (in dollars per share)											$ 25
Dividends on preference shares \| $													$ 12,375,000	$ 12,375,000	$ 12,375,000
Maximum
Class of Stock [Line Items]
Authorized amount of share repurchase program \| $																$ 75,000,000

Shareholders' Equity - Schedule of Common Shares (Details) - shares										12 Months Ended
	Sep. 15, 2016	Mar. 10, 2016	Feb. 17, 2016	Feb. 15, 2016	Jan. 01, 2016	Mar. 05, 2015	Feb. 19, 2015	Jan. 01, 2015	Feb. 19, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issued and outstanding shares – January 1 (in shares)					73,721,140			72,932,702		73,721,140	72,932,702	72,633,561
Issuance of vested restricted shares and restricted share units (in shares)										251,027	378,120	184,396
Shares repurchased (in shares)		(20,469)	(1,183)	(10,255)	(3,351)	(33,846)	(7,658)	(4,954)	(5,851)	(35,258)	(46,458)	(5,851)
Exercise of options (in shares)										265,110	456,776	120,596
Issued and outstanding shares – December 31 (in shares)										86,271,109	73,721,140	72,932,702
Series B Convertible Preference Shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Mandatory conversion of preference shares - Series B (in shares)	12,069,090									12,069,090	0	0

Shareholders' Equity - Reclassified out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (Loss) on Investments									$ 6,774	$ 2,498	$ 1,163
Net impairment losses recognized in earnings									0	(1,060)	(2,364)
Income before income taxes									49,712	126,322	103,697
Income tax expense									(1,574)	(2,038)	(2,164)
Net income	$ (69,374)	$ 40,796	$ 39,887	$ 36,829	$ 30,724	$ 28,515	$ 26,511	$ 38,534	48,138	124,284	101,533
Unrealized (losses) gains on AFS securities \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (Loss) on Investments									(576)	263	(3,160)
Net impairment losses recognized in earnings									0	0	(102)
Income before income taxes									(576)	263	(3,262)
Income tax expense									0	0	(16)
Net income									$ (576)	$ 263	$ (3,278)

- Definition

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.

+ References + Details

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,349,099	$ 1,241,166
Other comprehensive income (loss) before reclassifications	38,193	(118,862)	$ 66,165
Amounts reclassified from AOCI to net income, net of tax	576	(263)	3,278
Other comprehensive income (loss), after tax	38,769	(119,125)	69,443
Ending balance	1,361,152	1,349,099	1,241,166
Change in net unrealized gains on investment, including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(54,112)	78,579	34,728
Other comprehensive income (loss) before reclassifications	32,820	(132,428)	40,573
Amounts reclassified from AOCI to net income, net of tax	576	(263)	3,278
Other comprehensive income (loss), after tax	33,396	(132,691)	43,851
Ending balance	(20,716)	(54,112)	78,579
Foreign currency translation adjustments, including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	30,231	16,665	(8,927)
Other comprehensive income (loss) before reclassifications	5,373	13,566	25,592
Amounts reclassified from AOCI to net income, net of tax	0	0	0
Other comprehensive income (loss), after tax	5,373	13,566	25,592
Ending balance	35,604	30,231	16,665
AOCI including portion attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(23,881)	95,244	25,801
Ending balance	14,888	(23,881)	95,244
Change in net unrealized gains on investment, attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0
Ending balance	0	0	0
Foreign currency translation adjustments, attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(114)	(49)
Ending balance	(109)	(114)	(49)
AOCI attributable to noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(114)	(49)
Ending balance	(109)	(114)	(49)
Change in net unrealized gains on investment, attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(54,112)	78,579
Ending balance	(20,716)	(54,112)	78,579
Foreign currency translation adjustments, attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	30,345	16,714
Ending balance	35,713	30,345	16,714
AOCI attributable to Maiden shareholders
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(23,767)	95,293	25,784
Ending balance	$ 14,997	$ (23,767)	$ 95,293

Share Compensation and Pension Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands						1 Months Ended	12 Months Ended
	Feb. 23, 2016	Feb. 16, 2016	Feb. 17, 2015	Feb. 18, 2014	Feb. 19, 2013	Mar. 18, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance under the Plan (in shares)							10,000,000
Volatility, maximum term							8 years 7 months 22 days
Volatility, maximum							28.70%
Weighted average grant date fair value (in dollars per share)							$ 2.10	$ 2.13	$ 2.11
Proceeds from stock options exercised							$ 1,931	$ 3,318	$ 592
Share-based expense from the adoption of ASC Topic 718							3,414	2,938	3,334
Defined contribution plans expense							$ 2,805	2,623	2,809
Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years					2 years
Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)						3 years
Share options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service period							4 years
Expiration period							10 years
Unrecognized compensation cost related to non-vested share-based compensation arrangements							$ 60	125
Period of recognition (in years)							7 months 6 days
Share options \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage							25.00%
Share options \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage							6.25%
Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout percentage based on formula							50.00%
Payout percentage based on CEO and Committee's discretion							50.00%
Performance-Based Restricted Share Units \| Performance Cycle
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)							3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements							$ 1,048
Period of recognition (in years)							1 year 9 months 22 days
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements							$ 310
Period of recognition (in years)							1 year 29 days
CEO Non-Performance-Based Restricted Share Units February 2013 \| CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested							$ 500	500	500
CEO Non-Performance-Based Restricted Share Units February 2013 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					33.333%
CEO Non-Performance-Based Restricted Share Units February 2013 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					33.333%
CEO Non-Performance-Based Restricted Share Units February 2013 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					33.333%
CEO Non-Performance-Based Restricted Share Units February 2014 \| CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested							268	266	266
CEO Non-Performance-Based Restricted Share Units February 2014 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				33.333%
CEO Non-Performance-Based Restricted Share Units February 2014 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				33.333%
CEO Non-Performance-Based Restricted Share Units February 2014 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				33.333%
CEO Non-Performance-Based Restricted Share Units February 2015 \| CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested							300
CEO Non-Performance-Based Restricted Share Units February 2015 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.333%
CEO Non-Performance-Based Restricted Share Units February 2015 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.333%
CEO Non-Performance-Based Restricted Share Units February 2015 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			33.333%
CEO Non-Performance-Based Restricted Share Units February 2016 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.333%
CEO Non-Performance-Based Restricted Share Units February 2016 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.333%
CEO Non-Performance-Based Restricted Share Units February 2016 \| CEO Non-Performance-Based Restricted Share Units \| Vesting period 3
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage		33.333%
Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2013 \| Non-CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested								479	$ 479
Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2014 \| Non-CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested							219	$ 219
Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2014 \| Non-CEO Non-Performance-Based Restricted Share Units \| Vesting period 1
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%	50.00%
Non-CEO Discretionary Non-Performance-Based Restricted Shares February 2014 \| Non-CEO Non-Performance-Based Restricted Share Units \| Vesting period 2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%	50.00%
Non-CEO Discretionary Non-Performance-Based Restricted Shares February and March 2015 \| Non-CEO Non-Performance-Based Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested							$ 209

Share Compensation and Pension Plans - Assumptions Used in Determining Fair Value of Options Granted (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assumptions:
Volatility	28.70%	37.60%	51.40%
Risk-free interest rate	1.67%	1.55%	1.77%
Weighted average expected lives in years	5 years 5 months 29 days	5 years 5 months 29 days	6 years 1 month 3 days
Forfeiture rate	1.66%	2.16%	3.45%
Dividend yield rate	3.55%	4.05%	3.46%

Share Compensation and Pension Plans - Summary of Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Number of Share Options, Outstanding [Roll Forward]
Outstanding, start of period (in shares)	1,926,199	2,362,975	2,439,413
Granted (in shares)	24,000	24,000	45,000
Exercised (in shares)	(265,110)	(456,776)	(120,596)
Expired (in shares)	(1,000)	(3,442)
Forfeited (in shares)		(558)	(842)
Outstanding, end of period (in shares)	1,684,089	1,926,199	2,362,975	2,439,413
Total options exercisable outstanding, Number of Share Options (in shares)	1,650,027
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 6.96	$ 6.95	$ 6.76
Granted (in dollars per share)	13.12	13.98	12.01
Exercised (in dollars per share)	7.28	7.27	4.91
Expired (in dollars per share)	7.67	8.61
Forfeited (in dollars per share)		9.00	7.74
Outstanding, end of period (in dollars per share)	7.00	6.96	6.95	$ 6.76
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	6.88
Weighted Average Grant-Date Fair Value (in dollars per share)	$ 2.45	$ 3.31	$ 4.28
Outstanding, Weighted Average Remaining Contractual Term	3 years 4 months 10 days	4 years 1 month 24 days	4 years 10 months 10 days	5 years 9 months
Total options exercisable outstanding, Weighted Average Remaining Contractual Term	3 years 2 months 19 days
Options Outstanding, Aggregate Intrinsic Value	$ 17,598	$ 15,306	$ 13,791	$ 10,174
Options Exercised, Aggregate Intrinsic Value	1,453	$ 3,521	$ 930
Total options exercisable outstanding, Aggregate Intrinsic Value	$ 17,433
Minimum
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 3.28	$ 3.28		$ 3.28
Granted (in dollars per share)				11.38
Outstanding, end of period (in dollars per share)	3.28	3.28	$ 3.28
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	3.28
Maximum
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	13.98	12.42		11.22
Granted (in dollars per share)				$ 12.42
Outstanding, end of period (in dollars per share)	13.98	$ 13.98	$ 12.42
Total options exercisable outstanding, Weighted Average Exercise Price (in dollars per share)	$ 13.98

Share Compensation and Pension Plans - Restricted Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
CEO Non-Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	138,128	146,666	149,701
Awards granted (in shares)	75,988	64,795	70,298
Awards vested (in shares)	(94,931)	(73,333)	(73,333)
Awards forfeited (in shares)	0	0	0
Ending Balance, Non-vested (in shares)	119,185	138,128	146,666
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 12.07	$ 10.45	$ 10.02
Awards granted (in dollars per share)	13.16	13.89	11.38
Awards vested (in dollars per share)	11.24	10.45	10.45
Awards forfeited (in dollars per share)	0.00	0.00	0.00
Weighted average grant date fair value, ending balance (in dollars per share)	$ 13.42	$ 12.07	$ 10.45
Non-CEO Non-Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	53,152	86,317	95,590
Awards granted (in shares)	23,000	38,180	38,522
Awards vested (in shares)	(29,949)	(67,061)	(47,795)
Awards forfeited (in shares)	0	(4,284)	0
Ending Balance, Non-vested (in shares)	46,203	53,152	86,317
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 13.22	$ 10.63	$ 10.02
Awards granted (in dollars per share)	12.90	13.94	11.38
Awards vested (in dollars per share)	12.67	10.41	10.02
Awards forfeited (in dollars per share)	0.00	11.38	0.00
Weighted average grant date fair value, ending balance (in dollars per share)	$ 13.42	$ 13.22	$ 10.63
Performance-Based Restricted Share Units
Number of Restricted Units
Beginning Balance, Non-vested (in shares)	745,482	807,770	753,862
Awards granted (in shares)	355,544	291,730	396,672
Awards vested (in shares)	(85,847)	(188,681)	(100,308)
Awards forfeited (in shares)	(169,458)	(165,337)	(242,456)
Ending Balance, Non-vested (in shares)	845,721	745,482	807,770
Weighted Average Grant-Date Fair Value
Weighted average grant date fair value, beginning balance (in dollars per share)	$ 12.05	$ 10.51	$ 9.21
Awards granted (in dollars per share)	13.11	13.89	11.38
Awards vested (in dollars per share)	12.29	9.54	8.56
Awards forfeited (in dollars per share)	10.02	10.61	8.56
Weighted average grant date fair value, ending balance (in dollars per share)	$ 12.88	$ 12.05	$ 10.51

Statutory Requirements and Dividend Restrictions (Details)	12 Months Ended
	Dec. 31, 2016 USD ($) subsidiary	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 14, 2016 USD ($)
Statutory Accounting Practices [Line Items]
Net assets	$ 1,361,152,000	$ 1,349,099,000	$ 1,241,166,000
Assets restricted due to statutory and collateral requirements	$ 1,042,473,000	724,480,000
Maximum dividend rate, percent of statutory capital and surplus	25.00%
Reduction to total statutory capital, percent threshold requiring approval	15.00%
MISSOURI
Statutory Accounting Practices [Line Items]
Statutory amount available for dividend payments without regulatory approval	$ 0
SWEDEN
Statutory Accounting Practices [Line Items]
Number of subsidiaries, domiciled insurance \| subsidiary	2
Maiden Bermuda
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	$ 1,470,206,000	1,813,766,000
Statutory Net Income (Loss)	87,888,000	146,027,000	60,016,000
Maiden Bermuda \| BERMUDA
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	1,470,206,000	1,813,766,000
Minimum solvency margin	343,728,000	905,369,000
Dividends or distributions limit	453,442,000
Dividends	445,000,000	0
Maiden US
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	296,550,000	294,338,000
Statutory Net Income (Loss)	(3,926,000)	17,439,000	16,614,000
Maiden US \| UNITED STATES
Statutory Accounting Practices [Line Items]
Minimum solvency margin	86,646,000	$ 78,100,000
Dividends permitted as a percentage of surplus		10.00%
Maiden LF
Statutory Accounting Practices [Line Items]
Statutory Capital and Surplus	8,101,000	$ 7,621,000
Statutory Net Income (Loss)	756,000	(199,000)	$ 651,000
Maiden LF \| SWEDEN
Statutory Accounting Practices [Line Items]
Minimum solvency margin	3,891,000	4,019,000
Dividends or distributions limit	2,843,000	2,178,000
Maiden GF \| SWEDEN
Statutory Accounting Practices [Line Items]
Minimum solvency margin	6,135,000
Senior Notes
Statutory Accounting Practices [Line Items]
Principal amount, debt	362,500,000	360,000,000
Senior Notes \| 2016 Senior Notes
Statutory Accounting Practices [Line Items]
Principal amount, debt	110,000,000	$ 0		$ 110,000,000
Regulatory capital add-on, coupon payments	$ 21,863,000

Taxation - Income before taxes and income tax expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0	$ 0
Income before income taxes – Domestic (Bermuda)	67,881,000	134,012,000	117,780,000
Loss before income taxes – Foreign (U.S. and others)	(18,169,000)	(7,690,000)	(14,083,000)
Total income before income taxes	49,712,000	126,322,000	103,697,000
Current tax expense – Domestic (Bermuda)	0	0	0
Current tax expense – Foreign (U.S. and others)	490,000	780,000	945,000
Total current tax expense	490,000	780,000	945,000
Deferred tax expense – Domestic (Bermuda)	0	0	0
Deferred tax expense – Foreign (U.S. and others)	1,084,000	1,258,000	1,219,000
Total deferred tax expense	1,084,000	1,258,000	1,219,000
Total income tax expense	$ 1,574,000	$ 2,038,000	$ 2,164,000

Taxation - Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income before income taxes									$ 49,712	$ 126,322	$ 103,697
Less: income tax expense									1,574	2,038	2,164
Net income	$ (69,374)	$ 40,796	$ 39,887	$ 36,829	$ 30,724	$ 28,515	$ 26,511	$ 38,534	$ 48,138	$ 124,284	$ 101,533
Reconciliation of effective tax rate (% of income before income taxes)
Bermuda tax rate									0.00%	0.00%	0.00%
U.S. taxes at statutory rates									(10.80%)	(2.20%)	(7.30%)
Valuation allowance in respect of U.S. taxes									13.20%	3.20%	8.50%
Other jurisdictions									0.80%	0.60%	0.90%
Actual tax rate									3.20%	1.60%	2.10%

Taxation - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Net operating losses	$ 63,143	$ 60,147
Unearned premiums	11,336	9,459
Discounting of net loss and LAE reserves	12,091	11,756
Net unrealized losses on investments	0	4,374
Accruals not currently deductible	160	109
Amortization of intangibles	2,439	2,796
OTTI	1,198	1,198
Others	3,289	543
Deferred tax assets before valuation allowance	93,656	90,382
Valuation allowance	78,300	78,845
Deferred tax assets, net	15,356	11,537
Deferred tax liabilities:
Deferred commission and other acquisition expenses	11,826	10,664
Indefinite lived intangible	1,750	1,750
Amortization of goodwill	9,480	8,319
Net unrealized gains on investment	2,713	0
Others	730	866
Deferred tax liabilities	26,499	21,599
Net deferred tax liability	11,143	10,062
(Decrease) increase in valuation allowance	(545)	13,102
U.S.
Deferred tax liabilities:
Net operating loss carry-forward	$ 180,408	$ 171,848

Subsequent Events (Details) - $ / shares			12 Months Ended
Subsequent Events (Details) - $ / shares	Feb. 21, 2017	Nov. 01, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)		$ 0.15	$ 0.57	$ 0.53	$ 0.46
Subsequent event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.15
Subsequent event \| Preference shares – Series A
Subsequent Event [Line Items]
Dividends declared per Preference share (in dollars per share)	0.515625
Subsequent event \| Preference shares – Series C
Subsequent Event [Line Items]
Dividends declared per Preference share (in dollars per share)	$ 0.445313

Condensed Quarterly Financial Data - Unaudited (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 659,284	$ 738,189	$ 674,746	$ 659,414	$ 620,917	$ 693,696	$ 647,071	$ 611,427	$ 2,731,633	$ 2,573,111	$ 2,381,167
Net income	(69,374)	40,796	39,887	36,829	30,724	28,515	26,511	38,534	48,138	124,284	101,533
Net income (loss) attributable to Maiden common shareholders	(74,731)	31,829	30,910	27,216	24,716	22,499	20,519	32,405	48,980	124,476	101,391
Comprehensive income (loss) – attributable to Maiden	$ (177,577)	$ 45,802	$ 89,389	$ 130,130	$ (15,974)	$ 10,658	$ (39,962)	$ 50,694	$ 87,744	$ 5,416	$ 170,900
Basic earnings (loss) per share attributable to Maiden common shareholders (in dollars per share)	$ (0.87)	$ 0.42	$ 0.42	$ 0.37	$ 0.34	$ 0.31	$ 0.28	$ 0.44	$ 0.20	$ 1.36	$ 1.06
Diluted earnings (loss) per share attributable to Maiden common shareholders (in dollars per share)	$ (0.87)	$ 0.40	$ 0.39	$ 0.35	$ 0.32	$ 0.30	$ 0.27	$ 0.41	0.19	$ 1.31	$ 1.04
Unfavorable reserve development	$ 120,426
Earnings per common share, basic, reduction from unfavorable reserve development (in dollar per share)	$ 1.40								1.55
Earnings per common share, diluted, reduction from unfavorable reserve development (in dollar per share)	$ 1.39								$ 1.48

Schedule I Summary of Investments, Other than Investments in Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	$ 4,005,642	$ 3,562,864
HTM securities, Amortized Cost	752,212	607,843
Other Investments, Amortized Cost	10,057	10,816
Total investments, Original or amortized cost	4,767,911	4,181,523
Available-for-sale fixed maturities, Fair value	3,971,666	3,508,088
HTM securities, Fair value	766,135	598,975
Other investments, Fair value	13,060	11,812
Total investments, Fair value	4,750,861	4,118,875
Amount at Which Shown in the Balance Sheet	4,736,938
U.S. treasury bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	5,186	5,714
Available-for-sale fixed maturities, Fair value	5,413	6,010
Amount at Which Shown in the Balance Sheet	5,413
U.S. agency bonds – mortgage-backed
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	1,720,436	1,471,782
Available-for-sale fixed maturities, Fair value	1,716,038	1,476,991
Amount at Which Shown in the Balance Sheet	1,716,038
U.S. agency bonds – other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	18,082	23,734
Available-for-sale fixed maturities, Fair value	18,102	24,311
Amount at Which Shown in the Balance Sheet	18,102
Non-U.S. government and supranational bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	35,158	35,128
Available-for-sale fixed maturities, Fair value	29,934	30,544
Amount at Which Shown in the Balance Sheet	29,934
Asset-backed securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	217,232
Available-for-sale fixed maturities, Fair value	220,876
Amount at Which Shown in the Balance Sheet	220,876
Corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	1,947,347	1,798,610
HTM securities, Amortized Cost	752,212	607,843
Available-for-sale fixed maturities, Fair value	1,916,205	1,739,668
HTM securities, Fair value	766,135	$ 598,975
Amount at Which Shown in the Balance Sheet	1,916,205
Municipal bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	62,201
Available-for-sale fixed maturities, Fair value	65,098
Amount at Which Shown in the Balance Sheet	65,098
Total AFS fixed maturities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Fixed Maturities, available-for-sale, Amortized cost	4,005,642
Available-for-sale fixed maturities, Fair value	3,971,666
Amount at Which Shown in the Balance Sheet	3,971,666
HTM Corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
HTM securities, Amortized Cost	752,212
HTM securities, Fair value	766,135
Amount at Which Shown in the Balance Sheet	752,212
HTM fixed maturities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
HTM securities, Amortized Cost	752,212
HTM securities, Fair value	766,135
Amount at Which Shown in the Balance Sheet	752,212
Other investments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Other Investments, Amortized Cost	10,057
Other investments, Fair value	13,060
Amount at Which Shown in the Balance Sheet	$ 13,060

Schedule II Condensed Financial Information of Parent Company - Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2013
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2016: $16,220; 2015: $42,774)	$ 3,971,666	$ 3,508,088
Other investments, at fair value (Cost 2016: $4,752; 2015: $5,000)	13,060	11,812
Cash and cash equivalents	45,747	89,641	$ 108,119	$ 139,833
Other assets	148,912	115,038
Total assets	6,252,299	5,703,578
Accrued expenses and other liabilities	167,736	139,873
Senior notes - principal amount	362,500	360,000
Less unamortized issuance costs	11,091	10,067
Senior notes, net	351,409	349,933
Total liabilities	4,891,147	4,354,479
Preference shares	315,000	480,000
Common shares ($0.01 par value; 87,321,012 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,271,109 and 73,721,140 shares outstanding in 2016 and 2015, respectively)	873	747
Additional paid-in capital	749,256	579,178
Accumulated other comprehensive income (loss)	14,997	(23,767)
Retained earnings	285,662	316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively)	(4,991)	(4,521)
Total Maiden shareholders’ equity	1,360,797	1,347,821
Total liabilities and equity	6,252,299	5,703,578
Balance Sheet Related Disclosures [Abstract]
Amortized Cost	4,005,642	3,562,864
Other Investments, Cost	$ 10,057	$ 10,816
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,321,012	74,735,785
Common shares, shares outstanding (in shares)	86,271,109	73,721,140	72,932,702	72,633,561
Treasury shares, shares (in shares)	1,049,903	1,014,645
Parent Company
Condensed Financial Statements, Captions [Line Items]
Fixed maturities, available-for-sale, at fair value (Amortized cost 2016: $16,220; 2015: $42,774)	$ 16,363	$ 40,189
Other investments, at fair value (Cost 2016: $4,752; 2015: $5,000)	6,586	4,905
Cash and cash equivalents	16,677	3,606	$ 6,894		$ 33,061
Investment in subsidiaries	1,555,857	1,736,707
Balances due from subsidiaries	73,414	120,100
Other assets	7,220	1,123
Total assets	1,676,117	1,906,630
Accrued expenses and other liabilities	14,478	12,217
Balances due to subsidiaries	194,536	546,592
Senior notes - principal amount	110,000	0
Less unamortized issuance costs	3,694	0
Senior notes, net	106,306	0
Total liabilities	315,320	558,809
Preference shares	315,000	480,000
Common shares ($0.01 par value; 87,321,012 and 74,735,785 shares issued in 2016 and 2015, respectively; 86,271,109 and 73,721,140 shares outstanding in 2016 and 2015, respectively)	873	747
Additional paid-in capital	749,256	579,178
Accumulated other comprehensive income (loss)	14,997	(23,767)
Retained earnings	285,662	316,184
Treasury shares, at cost (1,049,903 and 1,014,645 shares in 2016 and 2015, respectively)	(4,991)	(4,521)
Total Maiden shareholders’ equity	1,360,797	1,347,821
Total liabilities and equity	1,676,117	1,906,630
Balance Sheet Related Disclosures [Abstract]
Amortized Cost	16,220	42,774
Other Investments, Cost	$ 4,752	$ 5,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares issued (in shares)	87,321,012	74,735,785
Common shares, shares outstanding (in shares)	86,271,109	73,721,140
Treasury shares, shares (in shares)	1,049,903	1,014,645

Schedule II Condensed Financial Information of Parent Company - Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Net investment income									$ 145,892	$ 131,092	$ 117,215
Net realized gains on investment									6,774	2,498	1,163
Total revenues	$ 659,284	$ 738,189	$ 674,746	$ 659,414	$ 620,917	$ 693,696	$ 647,071	$ 611,427	2,731,633	2,573,111	2,381,167
Expenses
General and administrative expenses									66,984	64,872	62,558
Interest and amortization expenses									28,173	29,063	29,959
Foreign exchange and other losses									(11,612)	(7,753)	(4,150)
Total expenses									2,681,921	2,446,789	2,277,470
Net income attributable to Maiden	(74,731)	31,829	30,910	27,216	24,716	22,499	20,519	32,405	48,980	124,476	101,391
Dividends on preference shares									(33,756)	(24,337)	(24,337)
Net income attributable to Maiden common shareholders									15,224	100,139	77,054
Comprehensive income (loss) – attributable to Maiden	$ (177,577)	$ 45,802	$ 89,389	$ 130,130	$ (15,974)	$ 10,658	$ (39,962)	$ 50,694	87,744	5,416	170,900
Parent Company
Revenues
Net investment income									1,693	2,034	4,892
Net realized gains on investment									1,990	20	981
Other fee revenue									0	1,321	0
Total revenues									3,683	3,375	5,873
Expenses
General and administrative expenses									17,008	16,319	14,588
Interest and amortization expenses									3,988	0	0
Foreign exchange and other losses									1,371	668	893
Total expenses									22,367	16,987	15,481
Loss before equity in earnings of consolidated subsidiaries									(18,684)	(13,612)	(9,608)
Equity in earnings of consolidated subsidiaries									67,664	138,088	110,999
Net income attributable to Maiden									48,980	124,476	101,391
Dividends on preference shares									(33,756)	(24,337)	(24,337)
Net income attributable to Maiden common shareholders									15,224	100,139	77,054
Comprehensive income (loss) – attributable to Maiden									$ 87,744	$ 5,416	$ 170,900

Schedule II Condensed Financial Information of Parent Company - Statements of Cash Flows (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Oct. 31, 2013	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows provided by operating activities
Net income		$ (74,731)	$ 31,829	$ 30,910	$ 27,216	$ 24,716	$ 22,499	$ 20,519	$ 32,405	$ 48,980	$ 124,476	$ 101,391
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized gains on investment										(6,774)	(2,498)	(1,163)
Foreign exchange and other losses										(11,612)	(7,753)	(4,150)
Changes in assets – (increase) decrease:
Other assets										(37,182)	(76,599)	32,060
Changes in liabilities – increase (decrease):
Net cash provided by operating activities										470,132	634,298	651,645
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale										(1,372,049)	(1,463,556)	(778,702)
Purchases of other investments										(172)	(217)	(6,698)
Proceeds from sales of fixed-maturities – available-for-sale										129,306	129,152	171,216
Proceeds from maturities and calls of fixed maturities										657,819	541,081	349,852
Proceeds from sales of other investments										1,481	456	797
Net cash used in investing activities										(439,204)	(750,678)	(471,884)
Cash flows used in financing activities
Senior notes, net of issuance costs										106,285	0	0
Preference shares, net of issuance costs										(143)	159,628	0
Dividends paid – preference shares										(33,756)	(24,337)	(24,337)
Dividends paid – Maiden common shareholders										(43,127)	(38,204)	(32,079)
Issuance of common shares										1,931	3,318	592
Repurchase of common shares										(470)	(654)	(66)
Net cash (used in) provided by financing activities										(76,780)	99,751	(208,390)
Effect of exchange rate changes on foreign currency cash										1,958	(1,849)	(3,085)
Net decrease in cash and cash equivalents										(43,894)	(18,478)	(31,714)
Cash and cash equivalents, beginning of period					89,641				108,119	89,641	108,119	139,833
Cash and cash equivalents, end of period		45,747				89,641				45,747	89,641	108,119
Parent Company
Cash flows provided by operating activities
Net income										48,980	124,476	101,391
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in earnings of consolidated subsidiaries										(67,664)	(138,088)	(110,999)
Amortization of bond premium and discount										207	222	414
Net realized gains on investment										(1,990)	(20)	(981)
Foreign exchange and other losses										1,371	668	893
Non-cash share compensation expense										3,414	2,938	3,334
Changes in assets – (increase) decrease:
Balance due from subsidiaries										(7,222)	(20,930)	(87,605)
Other assets										(125)	237	536
Changes in liabilities – increase (decrease):
Accounts payable and accrued liabilities										(216)	12	(138)
Balances due to subsidiaries										84,504	49,162	120,069
Net cash provided by operating activities										61,259	18,677	26,914
Cash flows used in investing activities
Purchases of fixed-maturities – available-for-sale										(16,203)	0	(1,340)
Purchases of other investments										0	0	(5,000)
Proceeds from sales of fixed-maturities – available-for-sale										44,475	1,041	87,032
Proceeds from maturities and calls of fixed maturities										0	0	6,857
Proceeds from sales of other investments										350	0	0
Investment in subsidiaries										(107,546)	(122,757)	(84,740)
Net cash used in investing activities										(78,924)	(121,716)	2,809
Cash flows used in financing activities
Senior notes, net of issuance costs										106,285	0	0
Preference shares, net of issuance costs										(143)	159,628	0
Dividends paid – preference shares										(33,756)	(24,337)	(24,337)
Dividends paid – Maiden common shareholders										(43,127)	(38,204)	(32,079)
Issuance of common shares										1,931	3,318	592
Repurchase of common shares										470	654	66
Net cash (used in) provided by financing activities										30,720	99,751	(55,890)
Effect of exchange rate changes on foreign currency cash										16	0	0
Net decrease in cash and cash equivalents										13,071	(3,288)	(26,167)
Cash and cash equivalents, beginning of period	$ 33,061				$ 3,606				$ 6,894	3,606	6,894
Cash and cash equivalents, end of period		$ 16,677				$ 3,606				$ 16,677	$ 3,606	$ 6,894

Schedule III Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	$ 424,605	$ 397,548	$ 372,487
Reserve for loss and loss adjustment expenses	2,896,496	2,510,101	2,271,292
Unearned premiums	1,475,506	1,354,572	1,207,757
Net premiums earned	2,568,150	2,429,069	2,251,743
Net investment income	145,892	131,092	117,215
Net loss and LAE	1,819,906	1,633,570	1,498,271
Amortization of deferred commission and other acquisition expenses	773,664	724,197	659,315
General and admin. expenses	66,984	64,872	62,558
Net premiums written	2,654,952	2,514,116	2,458,136
Operating Segments \| Diversified Reinsurance segment
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	85,432	80,012	87,289
Reserve for loss and loss adjustment expenses	1,103,936	1,046,471	1,058,924
Unearned premiums	323,873	277,460	293,893
Net premiums earned	724,124	744,875	854,026
Net investment income	0	0	0
Net loss and LAE	579,520	547,296	579,771
Amortization of deferred commission and other acquisition expenses	188,506	196,292	233,711
General and admin. expenses	35,681	35,312	38,858
Net premiums written	766,119	734,781	850,049
Operating Segments \| AmTrust Reinsurance segment
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	339,173	317,536	285,232
Reserve for loss and loss adjustment expenses	1,757,728	1,420,418	1,122,479
Unearned premiums	1,151,633	1,077,112	913,861
Net premiums earned	1,843,621	1,684,191	1,378,327
Net investment income	0	0	0
Net loss and LAE	1,225,830	1,074,072	893,502
Amortization of deferred commission and other acquisition expenses	584,820	527,863	418,908
General and admin. expenses	2,896	3,016	2,533
Net premiums written	1,888,428	1,779,334	1,610,485
Operating Segments \| Total reportable segments
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	424,605	397,548	372,521
Reserve for loss and loss adjustment expenses	2,861,664	2,466,889	2,181,403
Unearned premiums	1,475,506	1,354,572	1,207,754
Net premiums earned	2,567,745	2,429,066	2,232,353
Net investment income	0	0	0
Net loss and LAE	1,805,350	1,621,368	1,473,273
Amortization of deferred commission and other acquisition expenses	773,326	724,155	652,619
General and admin. expenses	38,577	38,328	41,391
Net premiums written	2,654,547	2,514,115	2,460,534
Other
Supplementary Insurance Information, by Segment [Line Items]
Deferred commission and other acquisition expenses	0	0	(34)
Reserve for loss and loss adjustment expenses	34,832	43,212	89,889
Unearned premiums	0	0	3
Net premiums earned	405	3	19,390
Net investment income	145,892	131,092	117,215
Net loss and LAE	14,556	12,202	24,998
Amortization of deferred commission and other acquisition expenses	338	42	6,696
General and admin. expenses	28,407	26,544	21,167
Net premiums written	$ 405	$ 1	$ (2,398)

Schedule IV Supplementary Reinsurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplementary Insurance Information [Abstract]
Gross	$ 8,045	$ 9,160	$ 48,565
Ceded to other companies	176,396	148,710	49,216
Assumed from other companies	2,823,303	2,653,666	2,458,787
Premiums written, Net	$ 2,654,952	$ 2,514,116	$ 2,458,136
Percentage of amount to net	106.30%	105.60%	100.00%

Schedule VI Supplementary Reinsurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplementary Insurance Information [Abstract]
Net loss and LAE, Current Year	$ 1,600,454	$ 1,558,704	$ 1,479,425
Net incurred losses related to Prior years	219,452	74,866	18,846
Paid loss and LAE	$ 1,437,591	$ 1,350,357	$ 1,135,791

Fair Value Measurements - Fair Value Hierarchy (Details) $ in Thousands	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, number of securities \| security	3	2
Other investments, Fair value	$ 13,060	$ 11,812
Investment in limited partnerships
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, Fair value	$ 5,474	5,907
Other investments, percent of assets	0.10%
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, Fair value	$ 1,000	1,000
U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, number of securities \| security	1
Assets, valued using pricing service, amount	$ 51,510
Significant Other Observable Inputs (Level 2) \| Available-for-sale fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets valued using market approach, amount	56,674	4,943
Fair Value, Measurements, Recurring \| Total Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	13,060	11,812
Total assets fair value	$ 3,984,726	$ 3,519,900
Percentage of total assets	63.70%	61.70%
Fair Value, Measurements, Recurring \| Total Fair Value \| Available-for-sale fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets valued by third party, percentage	98.80%	99.90%
Assets valued using market approach, percentage (in securities)	1.20%	0.10%
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 5,413	$ 6,010
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,716,038	1,476,991
Fair Value, Measurements, Recurring \| Total Fair Value \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	18,102	24,311
Fair Value, Measurements, Recurring \| Total Fair Value \| Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	29,934	30,544
Fair Value, Measurements, Recurring \| Total Fair Value \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	220,876	165,804
Fair Value, Measurements, Recurring \| Total Fair Value \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,916,205	1,739,668
Fair Value, Measurements, Recurring \| Total Fair Value \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	65,098	64,760
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	6,586	4,905
Total assets fair value	$ 11,999	$ 10,915
Percentage of total assets	0.20%	0.20%
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 5,413	$ 6,010
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	0	0
Total assets fair value	$ 3,966,253	$ 3,502,078
Percentage of total assets	63.40%	61.40%
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 0	$ 0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,716,038	1,476,991
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	18,102	24,311
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	29,934	30,544
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	220,876	165,804
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	1,916,205	1,739,668
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	65,098	64,760
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments, fair value	6,474	6,907
Total assets fair value	$ 6,474	$ 6,907
Percentage of total assets	0.10%	0.10%
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. treasury bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 0	$ 0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency bonds – mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| U.S. agency bonds – other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Non-U.S. government and supranational bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	0	0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
AFS fixed maturities, fair value	$ 0	$ 0

Dividend per Share

Payable on:

Record date:

Common shares

January 17, 2017

January 3, 2017